UniCredit S.p.A. Stock Forecast

Green day on Friday for UniCredit S.p.A. stock after gaining 1.27%
(Updated on May 17, 2024)

UCG.WA Signals & Forecast

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 154.38zł and 150.66zł. 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). 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 Friday, May 10, 2024, and so far it has fallen -0.763%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

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

On the downside, the stock finds support just below today's level from accumulated volume at 146.30zł and 145.64zł. 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, UniCredit S.p.A. finds support just below today's level at 146.30zł. If this is broken, then the next support from accumulated volume will be at 145.64zł and 143.22zł.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 1.96zł between high and low, or 1.27%. For the last week the stock has had daily average volatility of 0.88%

Our recommended stop-loss: 150.46zł (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (UCG.WA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect UniCredit S.p.A. to open at 155.35zł, and during the day (based on 14 day Average True Range), to move between 153.06zł and 158.94zł, which gives a possible trading interval of +/-2.94zł (+/-1.89%) 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 3.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 157.20zł (0.77%) than the support at 146.30zł (6.22%), 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 UniCredit S.p.A. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for UniCredit S.p.A. stock to perform well in the short-term.

Current score: 3.283 Buy Candidate Unchanged

Predicted Opening Price for UniCredit S.p.A. of Monday, May 20, 2024

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