Ubisoft Entertainment SA Stock Forecast
Ubisoft Entertainment SA stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Ubisoft Entertainment SA stock price gained 0.185% on the last trading day (Thursday, 25th Apr 2024), rising from 21.68€ to 21.72€. During the last trading day the stock fluctuated 2.34% from a day low at 21.35€ to a day high of 21.85€. The price has fallen in 6 of the last 10 days but is still up by 5.54% over the past 2 weeks. Volume fell on the last day by -61 thousand shares and in total, 317 thousand shares were bought and sold for approximately 6.88€ million. 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 very 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 -5.07% during the next 3 months and, with a 90% probability hold a price between 17.43€ and 22.31€ at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UBI.PA Signals & Forecast
The Ubisoft Entertainment SA 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 21.47€ and 20.09€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.367%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ubisoft Entertainment SA stock
On the downside, the stock finds support just below today's level from accumulated volume at 19.42€ and 19.18€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ubisoft Entertainment SA finds support just below today's level at 19.42€. If this is broken, then the next support from accumulated volume will be at 19.18€ and 18.97€.
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 0.500€ between high and low, or 2.34%. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: 21.04€ (-3.15%) (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 (UBI.PA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ubisoft Entertainment SA to open at 21.64€, and during the day (based on 14 day Average True Range), to move between 21.10€ and 22.34€, which gives a possible trading interval of +/-0.622€ (+/-2.86%) up or down from last closing price. If Ubisoft Entertainment SA takes out the full calculated possible swing range there will be an estimated 5.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 22.67€ (4.37%) than the support at 19.42€ (10.59%), 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 Ubisoft Entertainment SA stock A Buy?
Ubisoft Entertainment SA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.465 Hold/Accumulate Downgraded
Predicted Opening Price for Ubisoft Entertainment SA of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| 21.64€ ( 0.368%) | 21.72€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UBI.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.14 | 1.93 % | |
| R2 | 21.95 | 1.05 % | ||
| R1 | 21.83 | 0.511 % | ||
| Current price: | 21.72 | |||
| Support | S1 | 21.45 | -1.25 % | |
| S2 | 21.33 | -1.79 % | ||
| S3 | 21.14 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.65 | 8.89 % | |
| R2 | 23.57 | 8.52 % | ||
| R1 | 22.67 | 4.37 % | ||
| Current price | 21.72 | |||
| Support | S1 | 19.42 | -10.59% | |
| S2 | 19.18 | -11.72% | ||
| S3 | 18.97 | -12.66% |
FAQ
Click here for our free guide on how to buy Ubisoft Entertainment SA Stock.
