Salzgitter Aktiengesellschaft Stock Forecast

Salzgitter Aktiengesellschaft stock price up 3.80% on Friday
(Updated on May 17, 2024)

SZG.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 6.43%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Salzgitter Aktiengesellschaft 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 23.74€. On a fall, the stock will find some support from the short-term average at 22.58€. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Buy

Special Signal Notification

Double Bottom Formation

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 11.78% to 26.27€ within 25 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Salzgitter Aktiengesellschaft stock

Salzgitter Aktiengesellschaft finds support from accumulated volume at 23.18€ 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 1.58€ between high and low, or 7.04%. For the last week, the stock has had daily average volatility of 4.53%.

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 Monday 20th

For the upcoming trading day on Monday, 20th we expect Salzgitter Aktiengesellschaft to open at 23.32€, and during the day (based on 14 day Average True Range), to move between 22.55€ and 24.45€, which gives a possible trading interval of +/-0.95€ (+/-4.06%) up or down from last closing price. If Salzgitter Aktiengesellschaft takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 23.64€ (0.60%) than the support at 23.18€ (1.36%), 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 Salzgitter Aktiengesellschaft stock A Buy?

Salzgitter Aktiengesellschaft 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: -1.666 Sell Candidate Unchanged

Predicted Opening Price for Salzgitter Aktiengesellschaft of Monday, May 20, 2024

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