BASF SE Stock Forecast

BASF SE stock upgraded from Strong Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)

BFFAF Signals & Forecast

The BASF SE 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 $53.96 and $55.40. A breakdown below any of these levels will issue sell signals. BASF SE 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. 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 Wednesday, April 10, 2024, and so far it has fallen -4.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for BASF SE stock

On the downside, the stock finds support just below today's level from accumulated volume at $50.85 and $48.01. 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, BASF SE finds support just below today's level at $50.85. If this is broken, then the next support from accumulated volume will be at $48.01 and $47.95.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.406%.

Our recommended stop-loss: $53.19 (-4.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (BFFAF) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect BASF SE to open at $55.96, and during the day (based on 14 day Average True Range), to move between $55.17 and $56.75, which gives a possible trading interval of +/-$0.789 (+/-1.41%) up or down from last closing price. If BASF SE takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $56.00 (0.07%) than the support at $50.85 (9.13%), 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 BASF SE stock A Buy?

BASF SE 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 Strong Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for BASF SE of Friday, April 26, 2024

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