Sonova Holding AG Stock Forecast

Stronger technical forecast for Sonova Holding AG stock price after Friday trading.
(Updated on May 17, 2024)

SOON.SW Signals & Forecast

The Sonova Holding AG 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 282.30 Fr and 261.67 Fr. 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). 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 15, 2024, and so far it has fallen -2.12%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Sonova Holding AG stock

Sonova Holding AG finds support from accumulated volume at 285.80 Fr 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 10.00 Fr between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 3.12%.

The Sonova Holding AG stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: 284.02 Fr (-2.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (SOON.SW) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Sonova Holding AG to open at 294.13 Fr, and during the day (based on 14 day Average True Range), to move between 284.39 Fr and 298.01 Fr, which gives a possible trading interval of +/-6.81 Fr (+/-2.34%) up or down from last closing price. If Sonova Holding AG takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 285.80 Fr (1.85%) than the resistance at 296.80 Fr (1.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sonova Holding AG stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.096 Buy Candidate Upgraded

Predicted Opening Price for Sonova Holding AG of Tuesday, May 21, 2024

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