Coca-Cola European Partners Plc Stock Forecast

Coca-Cola European Partners Plc stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

CCEP.AS Signals & Forecast

There are mixed signals in the stock today. The Coca-Cola European Partners Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 64.51€. On a fall, the stock will find some support from the short-term average at 63.20€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.05%. Further rise is indicated until a new top pivot has been found. The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Coca-Cola European Partners Plc stock

Coca-Cola European Partners Plc finds support from accumulated volume at 63.80€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered 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 1.20€ between high and low, or 1.89%. For the last week the stock has had daily average volatility of 1.34%.

Our recommended stop-loss: 61.22€ (-4.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (CCEP.AS) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Coca-Cola European Partners Plc to open at 64.13€, and during the day (based on 14 day Average True Range), to move between 63.17€ and 65.23€, which gives a possible trading interval of +/-1.03€ (+/-1.61%) up or down from last closing price. If Coca-Cola European Partners Plc takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 63.80€ (0.62%) than the resistance at 65.10€ (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Coca-Cola European Partners Plc stock A Buy?

Coca-Cola European Partners Plc 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: 0.933 Hold/Accumulate Downgraded

Predicted Opening Price for Coca-Cola European Partners Plc of Tuesday, April 23, 2024

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