Société Générale Société anonyme Stock Forecast

Société Générale Société anonyme stock downgraded to Hold/Accumulate
(Updated on May 14, 2024)

SGE.F 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 25.54€ and 25.08€. 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 12.42%. 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). Société Générale Société anonyme has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Monday, May 06, 2024 with a target of 25.22€. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

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 24.46€ and 22.53€. 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 24.46€. If this is broken, then the next support from accumulated volume will be at 22.53€ and 22.52€.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.635€ (2.37%) between high and low. For the last week, the stock has had daily average volatility of 1.59%.

Since the Société Générale Société anonyme has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: 26.24€ (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (SGE.F) For The Upcoming Trading Day Of Wednesday 15th

For the upcoming trading day on Wednesday, 15th we expect Société Générale Société anonyme to open at 27.17€, and during the day (based on 14 day Average True Range), to move between 26.60€ and 27.89€, which gives a possible trading interval of +/-0.646€ (+/-2.37%) 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 4.74% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 24.46€, some 2.79€ (10.22%) from the current price of 27.25€, our system finds the risk reward attractive.

Is Société Générale Société anonyme stock A Buy?

Société Générale Société anonyme 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 Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Société Générale Société anonyme of Wednesday, May 15, 2024

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