Saipem S.p.A. Stock Forecast
Green day on Friday for Saipem S.p.A. stock after gaining 0.419%
(Updated on May 10, 2024)
The Saipem S.p.A. stock price gained 0.419% on the last trading day (Friday, 10th May 2024), rising from 2.15€ to 2.16€. During the last trading day the stock fluctuated 2.13% from a day low at 2.16€ to a day high of 2.20€. The price has risen in 6 of the last 10 days and is up by 0.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately 38.47€ million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 2.14€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 53.16% during the next 3 months and, with a 90% probability hold a price between 3.28€ and 4.15€ at the end of this 3-month period.
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SPM.MI Signals & Forecast
There are mixed signals in the stock today. The Saipem S.p.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 2.22€. On a fall, the stock will find some support from the short-term average at 2.16€. 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. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -10.68%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Saipem S.p.A. stock
On the downside, the stock finds support just below today's level from accumulated volume at 1.91€ and 1.82€. 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, Saipem S.p.A. finds support just below today's level at 1.91€. If this is broken, then the next support from accumulated volume will be at 1.82€ and 1.68€.
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 0.0460€ between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPM.MI) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Saipem S.p.A. to open at 2.17€, and during the day (based on 14 day Average True Range), to move between 2.08€ and 2.23€, which gives a possible trading interval of +/-0.0756€ (+/-3.50%) up or down from last closing price. If Saipem S.p.A. takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 2.25€ (4.22%) than the support at 1.91€ (11.45%), 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 Saipem S.p.A. stock A Buy?
Saipem S.p.A. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.145 Sell Candidate Unchanged
Predicted Opening Price for Saipem S.p.A. of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
2.17€ ( 0.680%) | 2.16€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPM.MI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.22 | 2.81 % | |
R2 | 2.20 | 2.00 % | ||
R1 | 2.19 | 1.49 % | ||
Current price: | 2.16 | |||
Support | S1 | 2.15 | -0.135 % | |
S2 | 2.14 | -0.638 % | ||
S3 | 2.13 | -1.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.40 | 11.13 % | |
R2 | 2.26 | 4.59 % | ||
R1 | 2.25 | 4.22 % | ||
Current price | 2.16 | |||
Support | S1 | 1.91 | -11.45% | |
S2 | 1.82 | -15.55% | ||
S3 | 1.68 | -22.07% |
SPM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 18, 2020 | May 18, 2020 | May 18, 2020 | 0.0251€ | 0.420% |
2 | May 20, 2013 | May 20, 2013 | May 20, 2013 | 2.15€ | 0% |
3 | May 21, 2012 | May 21, 2012 | May 21, 2012 | 2.21€ | 0% |
4 | May 23, 2011 | May 23, 2011 | May 23, 2011 | 1.99€ | 0% |
5 | May 24, 2010 | May 24, 2010 | May 24, 2010 | 1.74€ | 0% |
FAQ
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