Sonova Holding AG Stock Forecast

Sonova Holding AG stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 31, 2024)

SOON.SW Signals & Forecast

The Sonova Holding AG stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 289.89 Fr. On a fall, the stock will find some support from the long-term average at approximately 269.85 Fr. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -4.27%. 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 270.80 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 5.10 Fr between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: 275.07 Fr (-3.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (SOON.SW) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Sonova Holding AG to open at 283.97 Fr, and during the day (based on 14 day Average True Range), to move between 278.39 Fr and 291.21 Fr, which gives a possible trading interval of +/-6.41 Fr (+/-2.25%) up or down from last closing price. If Sonova Holding AG takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 285.80 Fr (0.35%) than the support at 270.80 Fr (4.92%), 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 Sonova Holding AG stock A Buy?

Sonova Holding AG 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: 0.130 Hold/Accumulate Upgraded

Predicted Opening Price for Sonova Holding AG of Monday, June 3, 2024

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