SOL S.p.A. Stock Forecast

Evaluation of SOL S.p.A. stock downgraded after the last trading session.
(Updated on May 21, 2024)

SOL.MI Signals & Forecast

SOL S.p.A. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SOL S.p.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 33.10€ and 34.19€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -11.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for SOL S.p.A. stock

On the downside, the stock finds support just below today's level from accumulated volume at 30.15€ and 29.65€. 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, SOL S.p.A. finds support just below today's level at 30.15€. If this is broken, then the next support from accumulated volume will be at 29.65€ and 29.20€.

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 0.500€ between high and low, or 1.58%. For the last week, the stock has had daily average volatility of 3.69%.

SOL S.p.A. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SOL.MI) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect SOL S.p.A. to open at 31.88€, and during the day (based on 14 day Average True Range), to move between 30.90€ and 33.00€, which gives a possible trading interval of +/-1.05€ (+/-3.28%) up or down from last closing price. If SOL S.p.A. takes out the full calculated possible swing range there will be an estimated 6.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 32.70€ (2.35%) than the support at 30.15€ (5.63%), 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 SOL S.p.A. stock A Buy?

The SOL S.p.A. stock holds several negative signals and despite the positive trend, we believe SOL S.p.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.379 Sell Candidate Downgraded

Predicted Opening Price for SOL S.p.A. of Wednesday, May 22, 2024

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