Société Générale Société anonyme Stock Forecast
Société Générale Société anonyme stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Société Générale Société anonyme stock price gained 2.19% on the last trading day (Friday, 17th May 2024), rising from $5.93 to $6.06. During the last trading day the stock fluctuated 2.87% from a day low at $5.92 to a day high of $6.09. The price has risen in 8 of the last 10 days and is up by 13.7% over the past 2 weeks. Volume fell on the last day by -415 thousand shares and in total, 157 thousand shares were bought and sold for approximately $949.18 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $5.87, a level that may pose a second chance to hit a runner. According to fan-theory $6.33 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SCGLY Signals & Forecast
The Société Générale Société anonyme 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 $5.84 and $5.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 14.77%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Société Générale Société anonyme stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.62 and $5.53. 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, Société Générale Société anonyme finds support just below today's level at $5.62. If this is broken, then the next support from accumulated volume will be at $5.53 and $5.24.
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 $0.170 between high and low, or 2.87%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: $5.87 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SCGLY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Société Générale Société anonyme to open at $6.02, and during the day (based on 14 day Average True Range), to move between $5.93 and $6.19, which gives a possible trading interval of +/-$0.129 (+/-2.13%) up or down from last closing price. If Société Générale Société anonyme takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.62, some $0.440 (7.26%) from the current price of $6.06, our system finds the risk reward attractive.
Is Société Générale Société anonyme stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Société Générale Société anonyme stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.031 Strong Buy Candidate Upgraded
Predicted Opening Price for Société Générale Société anonyme of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $6.02 ( 0.604%) | $6.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCGLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.19 | 2.20 % | |
| R2 | 6.13 | 1.13 % | ||
| R1 | 6.09 | 0.466 % | ||
| Current price: | 6.06 | |||
| Support | S1 | 5.96 | -1.67 % | |
| S2 | 5.92 | -2.34 % | ||
| S3 | 5.85 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 6.06 | |||
| Support | S1 | 5.62 | -7.26% | |
| S2 | 5.53 | -8.75% | ||
| S3 | 5.24 | -13.53% |
SCGLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | Jun 13, 2024 | $0.194 | 3.20% |
| 2 | May 25, 2023 | May 25, 2023 | Jun 16, 2023 | $0.363 | 7.09% |
| 3 | May 23, 2022 | May 23, 2022 | May 23, 2022 | $0.346 | 6.69% |
| 4 | May 05, 2021 | May 21, 2021 | Jun 11, 2021 | $0.132 | 2.05% |
| 5 | May 23, 2019 | May 23, 2019 | Jul 08, 2019 | $0.500 | 9.96% |
FAQ
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