Umicore Stock Forecast

Umicore stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)

UMI.BB Signals & Forecast

The Umicore stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 21.16€. On a fall, the stock will find some support from the long-term average at approximately 20.52€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 12, 2024, and so far it has fallen -1.58%. Further fall is indicated until a new bottom pivot has been found. 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 Umicore stock

Umicore finds support from accumulated volume at 20.70€ 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 0.360€ (1.72%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (UMI.BB) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Umicore to open at 21.13€, and during the day (based on 14 day Average True Range), to move between 20.56€ and 21.68€, which gives a possible trading interval of +/-0.562€ (+/-2.66%) up or down from last closing price. If Umicore takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 21.17€ (0.24%) than the support at 20.70€ (1.99%), 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 Umicore stock A Buy?

Umicore holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.196 Sell Candidate Downgraded

Predicted Opening Price for Umicore of Friday, April 19, 2024

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