thyssenkrupp AG Stock Forecast
thyssenkrupp AG stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The thyssenkrupp AG stock price fell by -1.14% on the last day (Tuesday, 7th May 2024) from 4.93€ to 4.88€. During the last trading day the stock fluctuated 3.13% from a day low at 4.82€ to a day high of 4.97€. The price has been going up and down for this period, and there has been a 7.8% gain for the last 2 weeks. Volume has increased on the last day by 78 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, 3 million shares were bought and sold for approximately 13.30€ million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect thyssenkrupp AG stock with a 90% probability to be traded between 4.28€ and 5.25€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TKA.F Signals & Forecast
The thyssenkrupp AG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 4.82€ and 4.87€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 9.38%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 thyssenkrupp AG stock
thyssenkrupp AG finds support from accumulated volume at 4.76€ 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 0.151€ between high and low, or 3.13%. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: 4.74€ (-2.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TKA.F) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect thyssenkrupp AG to open at 4.89€, and during the day (based on 14 day Average True Range), to move between 4.71€ and 5.04€, which gives a possible trading interval of +/-0.165€ (+/-3.38%) up or down from last closing price. If thyssenkrupp AG takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 4.90€ (0.49%) than the support at 4.76€ (2.46%), 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.
Earnings coming up
thyssenkrupp AG will release earnings BMO on Wednesday, May 15, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.160. We will update the financials statements for thyssenkrupp AG, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.40% in the first trading day after earnings release.
Is thyssenkrupp AG stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for thyssenkrupp AG stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.154 Buy Candidate Upgraded
Predicted Opening Price for thyssenkrupp AG of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| 4.89€ ( 0.280%) | 4.88€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TKA.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.04 | 3.38 % | |
| R2 | 4.98 | 2.19 % | ||
| R1 | 4.95 | 1.46 % | ||
| Current price: | 4.88 | |||
| Support | S1 | 4.83 | -0.90 % | |
| S2 | 4.80 | -1.63 % | ||
| S3 | 4.74 | -2.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.27 | 8.08 % | |
| R2 | 4.94 | 1.21 % | ||
| R1 | 4.90 | 0.492 % | ||
| Current price | 4.88 | |||
| Support | S1 | 4.76 | -2.46% | |
| S2 | 4.73 | -2.93% | ||
| S3 | 4.66 | -4.51% |
TKA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 05, 2024 | Feb 05, 2024 | 0€ | 0% |
| 2 | Feb 06, 2023 | Feb 06, 2023 | Feb 06, 2023 | 0.150€ | 0% |
| 3 | Nov 27, 2018 | Feb 04, 2019 | Feb 06, 2019 | 0.150€ | 0% |
| 4 | Nov 23, 2017 | Jan 22, 2018 | Jan 24, 2018 | 0.150€ | 0% |
| 5 | Nov 25, 2016 | Jan 30, 2017 | Feb 01, 2017 | 0.150€ | 0% |
FAQ
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