Soitec S.A. Stock Forecast
Soitec S.A. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Soitec S.A. stock price gained 2.84% on the last trading day (Friday, 3rd May 2024), rising from 91.60€ to 94.20€. During the last trading day the stock fluctuated 4.03% from a day low at 91.90€ to a day high of 95.60€. The price has risen in 5 of the last 10 days and is up by 5.02% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 83 thousand shares were bought and sold for approximately 7.84€ million. 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 lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 95.57€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -41.23% during the next 3 months and, with a 90% probability hold a price between 45.43€ and 56.17€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SOI.PA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 8.03%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Soitec S.A. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 102.30€. On a fall, the stock will find some support from the short-term average at 91.74€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Soitec S.A. stock
Soitec S.A. finds support from accumulated volume at 92.70€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 3.70€ (4.03%) between high and low. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: 90.76€ (-3.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SOI.PA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Soitec S.A. to open at 93.90€, and during the day (based on 14 day Average True Range), to move between 90.64€ and 97.76€, which gives a possible trading interval of +/-3.56€ (+/-3.78%) up or down from last closing price. If Soitec S.A. takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 92.70€ (1.59%) than the resistance at 95.90€ (1.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Soitec S.A. stock A Buy?
Soitec S.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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.629 Hold/Accumulate Upgraded
Predicted Opening Price for Soitec S.A. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 93.90€ ( 0.318%) | 94.20€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOI.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.60 | 3.61 % | |
| R2 | 96.19 | 2.11 % | ||
| R1 | 95.31 | 1.18 % | ||
| Current price: | 94.20 | |||
| Support | S1 | 92.49 | -1.82 % | |
| S2 | 91.61 | -2.75 % | ||
| S3 | 90.20 | -4.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 99.80 | 5.94 % | |
| R2 | 99.10 | 5.20 % | ||
| R1 | 95.90 | 1.80 % | ||
| Current price | 94.20 | |||
| Support | S1 | 92.70 | -1.59% | |
| S2 | 92.60 | -1.70% | ||
| S3 | 91.00 | -3.40% |
FAQ
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