Rexel S.A. Stock Forecast

Red day on Wednesday for Rexel S.A. stock after losing 0.532%
(Updated on May 22, 2024)

RXL.PA Signals & Forecast

The Rexel S.A. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 27.91€ and 25.69€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -1.13%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Rexel S.A. stock

On the downside, the stock finds support just below today's level from accumulated volume at 24.73€ and 24.43€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Rexel S.A. finds support just below today's level at 24.73€. If this is broken, then the next support from accumulated volume will be at 24.43€ and 23.70€.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.450€ between high and low, or 1.61%. For the last week, the stock has had daily average volatility of 1.95%.

Our recommended stop-loss: 27.02€ (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (RXL.PA) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Rexel S.A. to open at 28.16€, and during the day (based on 14 day Average True Range), to move between 27.33€ and 28.75€, which gives a possible trading interval of +/-0.712€ (+/-2.54%) up or down from last closing price. If Rexel S.A. takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 28.17€ (0.46%) than the support at 24.73€ (11.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Rexel S.A. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Rexel S.A. stock to perform well in the short-term.

Current score: 3.055 Buy Candidate Unchanged

Predicted Opening Price for Rexel S.A. of Thursday, May 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.