Tesmec S.p.A. Stock Forecast
Tesmec S.p.A. stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 22, 2024)
The Tesmec S.p.A. stock price gained 1.29% on the last trading day (Wednesday, 22nd May 2024), rising from 0.0933€ to 0.0945€. During the last trading day the stock fluctuated 2.27% from a day low at 0.0925€ to a day high of 0.0946€. The price has fallen in 6 of the last 10 days but is still up by 0.53% 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, 325 thousand more shares were traded than the day before. In total, 690 thousand shares were bought and sold for approximately 65.19€ thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 0.0963€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.99% during the next 3 months and, with a 90% probability hold a price between 0.0729€ and 0.0857€ 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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TES.MI Signals & Forecast
The Tesmec S.p.A. 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 0.0942€ and 0.0941€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 5.94%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Tesmec S.p.A. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Monday, April 22, 2024 and based on theory for this formation the price should go up by 1.80% to 0.0962€ within 16 trading days since signal was issued (Thursday, May 23, 2024).
Support, Risk & Stop-loss for Tesmec S.p.A. stock
Tesmec S.p.A. finds support from accumulated volume at 0.0939€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.0021€ between high and low, or 2.27%. For the last week the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: 0.0909€ (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (TES.MI) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Tesmec S.p.A. to open at 0.0939€, and during the day (based on 14 day Average True Range), to move between 0.0914€ and 0.0976€, which gives a possible trading interval of +/-0.0031€ (+/-3.25%) up or down from last closing price. If Tesmec S.p.A. takes out the full calculated possible swing range there will be an estimated 6.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.0939€ (0.63%) than the resistance at 0.0952€ (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tesmec S.p.A. stock A Buy?
Tesmec S.p.A. 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: -0.219 Hold/Accumulate Upgraded
Predicted Opening Price for Tesmec S.p.A. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| 0.0939€ ( 0.670%) | 0.0945€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TES.MI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0960 | 1.55 % | |
| R2 | 0.0952 | 0.703 % | ||
| R1 | 0.0947 | 0.179 % | ||
| Current price: | 0.0945 | |||
| Support | S1 | 0.0931 | -1.52 % | |
| S2 | 0.0926 | -2.04 % | ||
| S3 | 0.0918 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.103 | 9.21 % | |
| R2 | 0.100 | 5.82 % | ||
| R1 | 0.0952 | 0.741 % | ||
| Current price | 0.0945 | |||
| Support | S1 | 0.0939 | -0.635% | |
| S2 | 0.0930 | -1.59% | ||
| S3 | 0.0892 | -5.61% |
TES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2016 | May 23, 2016 | May 23, 2016 | 0.0133€ | 2.55% |
| 2 | May 25, 2015 | May 25, 2015 | May 25, 2015 | 0.0122€ | 1.65% |
| 3 | May 26, 2014 | May 26, 2014 | May 26, 2014 | 0.0085€ | 1.24% |
| 4 | May 20, 2013 | May 20, 2013 | May 20, 2013 | 0.0186€ | 2.76% |
| 5 | May 21, 2012 | May 21, 2012 | May 21, 2012 | 0.0159€ | 4.68% |
FAQ
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