Oeneo SA Stock Forecast

Oeneo SA stock downgraded to Hold/Accumulate
(Updated on May 31, 2024)

SBT.PA Signals & Forecast

The Oeneo SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 11.81€. On a fall, the stock will find some support from the long-term average at approximately 10.91€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, May 27, 2024, and so far it has fallen -2.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Oeneo SA stock

On the downside, the stock finds support just below today's level from accumulated volume at 10.60€ and 10.50€. 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, Oeneo SA finds support just below today's level at 10.60€. If this is broken, then the next support from accumulated volume will be at 10.50€ and 10.30€.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.1000€ between high and low, or 0.85%. For the last week the stock has had daily average volatility of 1.37%.

Our recommended stop-loss: 11.22€ (-4.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)

Trading Expectations (SBT.PA) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Oeneo SA to open at 11.78€, and during the day (based on 14 day Average True Range), to move between 11.56€ and 11.94€, which gives a possible trading interval of +/-0.186€ (+/-1.59%) up or down from last closing price. If Oeneo SA takes out the full calculated possible swing range there will be an estimated 3.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 11.80€ (0.43%) than the support at 10.60€ (9.79%), 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 Oeneo SA stock A Buy?

Oeneo SA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.496 Hold/Accumulate Downgraded

Predicted Opening Price for Oeneo SA of Monday, June 3, 2024

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