Sanofi Stock Forecast
Sanofi stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Sanofi stock price gained 0.463% on the last trading day (Tuesday, 25th Jun 2024), rising from 90.79€ to 91.21€. During the last trading day the stock fluctuated 1.02% from a day low at 90.29€ to a day high of 91.21€. The price has been going up and down for this period, and there has been a 1.19% gain for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 2 thousand shares were bought and sold for approximately 153.69€ 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sanofi stock with a 90% probability to be traded between 86.54€ and 95.24€ 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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SNW.F Signals & Forecast
The Sanofi stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 88.78€ and 89.94€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 5.15%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Sanofi stock
Sanofi finds support from accumulated volume at 90.79€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0.92€ between high and low, or 1.02%. For the last week the stock has had daily average volatility of 1.67%
Our recommended stop-loss: 87.38€ (-4.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (SNW.F) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sanofi to open at 90.90€, and during the day (based on 14 day Average True Range), to move between 89.66€ and 92.76€, which gives a possible trading interval of +/-1.55€ (+/-1.70%) up or down from last closing price. If Sanofi takes out the full calculated possible swing range there will be an estimated 3.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 90.79€ (0.46%) than the resistance at 91.90€ (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sanofi stock A Buy?
Sanofi 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: 0.401 Hold/Accumulate Downgraded
Predicted Opening Price for Sanofi of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 90.90€ ( 0.336%) | 91.21€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNW.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.82 | 0.672% |
| R2 | 91.47 | 0.287% |
| R1 | 91.25 | 0.0491% |
| Price | 91.21 | |
| S1 | 90.55 | -0.722% |
| S2 | 90.33 | -0.96% |
| S3 | 89.98 | -1.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.68 | 1.61% |
| R2 | 92.02 | 0.89% |
| R1 | 91.90 | 0.756% |
| Price | 91.21 | |
| S1 | 90.79 | -0.460% |
| S2 | 88.86 | -2.58% |
| S3 | 88.11 | -3.40% |
SNW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 15, 2024 | 3.76€ | 0% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | 3.56€ | 0% |
| 3 | May 06, 2022 | May 06, 2022 | May 06, 2022 | 3.33€ | 0% |
| 4 | May 05, 2021 | May 05, 2021 | May 05, 2021 | 3.20€ | 0% |
| 5 | Feb 06, 2020 | May 04, 2020 | May 06, 2020 | 3.15€ | 0% |
FAQ
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