Salzgitter Aktiengesellschaft Stock Forecast
Volatile ride for Salzgitter Aktiengesellschaft stock price on Tuesday moving between 21.20€ and 24.52€
(Updated on May 07, 2024)
The Salzgitter Aktiengesellschaft stock price fell by -9.36% on the last day (Tuesday, 7th May 2024) from 24.36€ to 22.08€. During the last trading day the stock fluctuated 15.66% from a day low at 21.20€ to a day high of 24.52€. The price has been going up and down for this period, and there has been a -6.6% loss for the last 2 weeks. Volume has increased on the last day by 455 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 491 thousand shares were bought and sold for approximately 10.83€ million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (22.29€) are considered to be a "second chance" to get out. According to the fan-theory 19.65€ will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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SZG.F Signals & Forecast
There are few to no technical positive signals at the moment. The Salzgitter Aktiengesellschaft stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 24.09€ and 23.95€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -11.61%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Salzgitter Aktiengesellschaft stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 3.32€ between high and low, or 15.66%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SZG.F) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Salzgitter Aktiengesellschaft to open at 22.60€, and during the day (based on 14 day Average True Range), to move between 21.08€ and 23.08€, which gives a possible trading interval of +/-1.00€ (+/-4.52%) up or down from last closing price. If Salzgitter Aktiengesellschaft takes out the full calculated possible swing range there will be an estimated 9.03% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ 23.18€, some 1.10€ (4.98%) from the current price of 22.08€, our system finds the risk reward not very attractive.
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 +/- 4.63% in the first trading day after earnings release.
Is Salzgitter Aktiengesellschaft stock A Buy?
Salzgitter Aktiengesellschaft holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -4.156 Sell Candidate Downgraded
Predicted Opening Price for Salzgitter Aktiengesellschaft of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| 22.60€ ( 2.36%) | 22.08€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SZG.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.92 | 17.39 % | |
| R2 | 24.65 | 11.65 % | ||
| R1 | 23.87 | 8.10 % | ||
| Current price: | 22.08 | |||
| Support | S1 | 21.33 | -3.39 % | |
| S2 | 20.55 | -6.94 % | ||
| S3 | 19.28 | -12.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.04 | 13.41 % | |
| R2 | 23.64 | 7.07 % | ||
| R1 | 23.18 | 4.98 % | ||
| Current price | 22.08 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SZG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 03, 2024 | 0.450€ | 0% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | 1.00€ | 0% |
| 3 | Jun 03, 2022 | Jun 03, 2022 | Jun 03, 2022 | 0.750€ | 0% |
| 4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | 0.200€ | 0% |
| 5 | Mar 22, 2019 | May 24, 2019 | May 28, 2019 | 0.550€ | 0% |
FAQ
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