Salzgitter Aktiengesellschaft Stock Forecast
Salzgitter Aktiengesellschaft stock price up 0.83% on Monday
(Updated on May 06, 2024)
The Salzgitter Aktiengesellschaft stock price gained 0.83% on the last trading day (Monday, 6th May 2024), rising from 24.16€ to 24.36€. During the last trading day the stock fluctuated 1.90% from a day low at 24.20€ to a day high of 24.66€. The price has risen in 6 of the last 10 days and is up by 4.37% over the past 2 weeks. Volume fell on the last day by -55 thousand shares and in total, 35 thousand shares were bought and sold for approximately 855.99€ thousand. 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 in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.60% during the next 3 months and, with a 90% probability hold a price between 21.55€ and 24.07€ 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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SZG.DE Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -2.48%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Salzgitter Aktiengesellschaft 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 24.19€ and 23.99€. A breakdown below any of these levels will issue sell signals.
A buy signal from a double bottom formation was found on Thursday, April 25, 2024 and based on theory for this formation the price should go up by 7.83% to 26.27€ within 25 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for Salzgitter Aktiengesellschaft stock
Salzgitter Aktiengesellschaft finds support from accumulated volume at 24.18€ 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.460€ between high and low, or 1.90%. For the last week the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: 23.28€ (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SZG.DE) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Salzgitter Aktiengesellschaft to open at 24.41€, and during the day (based on 14 day Average True Range), to move between 23.54€ and 25.18€, which gives a possible trading interval of +/-0.82€ (+/-3.37%) up or down from last closing price. If Salzgitter Aktiengesellschaft takes out the full calculated possible swing range there will be an estimated 6.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 24.18€ (0.74%) than the resistance at 25.04€ (2.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Salzgitter Aktiengesellschaft will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.04. We will update the financials statements for Salzgitter Aktiengesellschaft, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.33% in the first trading day after earnings release.
Is Salzgitter Aktiengesellschaft stock A Buy?
Salzgitter Aktiengesellschaft 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.
Current score: -0.647 Hold/Accumulate Unchanged
Predicted Opening Price for Salzgitter Aktiengesellschaft of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| 24.41€ ( 0.192%) | 24.36€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SZG.DE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.87 | 2.08 % | |
| R2 | 24.69 | 1.36 % | ||
| R1 | 24.58 | 0.91 % | ||
| Current price: | 24.36 | |||
| Support | S1 | 24.23 | -0.530 % | |
| S2 | 24.12 | -0.98 % | ||
| S3 | 23.95 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.20 | 3.45 % | |
| R2 | 25.12 | 3.12 % | ||
| R1 | 25.04 | 2.79 % | ||
| Current price | 24.36 | |||
| Support | S1 | 24.18 | -0.739% | |
| S2 | 23.64 | -2.96% | ||
| S3 | 23.18 | -4.84% |
SZG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 03, 2024 | 0.450€ | 1.85% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | 1.00€ | 3.17% |
| 3 | Jun 03, 2022 | Jun 03, 2022 | Jun 03, 2022 | 0.750€ | 1.93% |
| 4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | 0.200€ | 1.64% |
| 5 | Mar 22, 2019 | May 24, 2019 | May 28, 2019 | 0.550€ | 2.27% |
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