Safilo Group S.p.A. Stock Forecast
Safilo Group S.p.A. stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
No changes to the price of Safilo Group S.p.A. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 1.64% from a day low at 1.22€ to a day high of 1.24€. The price has fallen in 5 of the last 10 days but is still up by 4.07% over the past 2 weeks.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at 1.24€ will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Safilo Group S.p.A. stock with a 90% probability to be traded between 1.07€ and 1.23€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SFL.MI Signals & Forecast
The Safilo Group S.p.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 1.21€ and 1.15€. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Wednesday, May 08, 2024, and so far it has fallen -0.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Safilo Group S.p.A. stock
Safilo Group S.p.A. finds support from accumulated volume at 1.18€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.0200€ between high and low, or 1.64%. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: 1.18€ (-3.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (SFL.MI) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Safilo Group S.p.A. to open at 1.23€, and during the day (based on 14 day Average True Range), to move between 1.19€ and 1.27€, which gives a possible trading interval of +/-0.0404€ (+/-3.29%) up or down from last closing price. If Safilo Group S.p.A. takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 1.23€ (0.65%) than the support at 1.18€ (3.59%), 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 Safilo Group S.p.A. stock A Buy?
Safilo Group S.p.A. 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: 0.265 Hold/Accumulate Downgraded
Predicted Opening Price for Safilo Group S.p.A. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 1.23€ ( 0.218%) | 1.23€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFL.MI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.25 | 1.85 % | |
| R2 | 1.24 | 1.23 % | ||
| R1 | 1.24 | 0.84 % | ||
| Current price: | 1.23 | |||
| Support | S1 | 1.22 | -0.406 % | |
| S2 | 1.22 | -0.791 % | ||
| S3 | 1.21 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1.24 | 0.82 % | ||
| R1 | 1.23 | 0.653 % | ||
| Current price | 1.23 | |||
| Support | S1 | 1.18 | -3.59% | |
| S2 | 1.17 | -4.40% | ||
| S3 | 1.15 | -6.36% |
SFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 12, 2008 | May 12, 2008 | May 12, 2008 | 0.645€ | 4.41% |
| 2 | May 21, 2007 | May 21, 2007 | May 21, 2007 | 0.152€ | 0.370% |
FAQ
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