UniCredit S.p.A. Stock Forecast

UniCredit S.p.A. stock upgraded to Strong Buy Candidate.
(Updated on May 21, 2024)

UCG.MI Signals & Forecast

Mostly positive signals in the chart today. The UniCredit 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 36.28€ and 35.23€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.49%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for UniCredit S.p.A. stock

UniCredit S.p.A. finds support from accumulated volume at 36.28€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.465€ (1.29%) between high and low. For the last week, the stock has had daily average volatility of 1.44%.

Our recommended stop-loss: 35.21€ (-3.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (UCG.MI) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect UniCredit S.p.A. to open at 36.38€, and during the day (based on 14 day Average True Range), to move between 35.76€ and 37.24€, which gives a possible trading interval of +/-0.745€ (+/-2.04%) up or down from last closing price. If UniCredit S.p.A. takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 36.28€, some 0.220€ (0.60%) from the current price of 36.50€, our system finds the risk reward attractive.

Is UniCredit S.p.A. stock A Buy?

UniCredit S.p.A. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.298 Strong Buy Candidate Upgraded

Predicted Opening Price for UniCredit S.p.A. of Wednesday, May 22, 2024

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