- The Vinci stock price has experienced some bearish momentum after touching its all-time high in April 2023.
- The Construction company is showing impressive growth in its financial reports. Know more below!
- The 50 EMA is looking to give a rejection to the bulls. See the levels and possible interactions below.
The Vinci stock price was touching its all-time high of €112.4 in April 2023. The stock has been in a bullish rally since October 2022. The recent financial performance report gives the best possible reason for the price surge.
Since 2021, the concessions and construction company has shown consistent growth in its revenue numbers. It showed a growth of 23% in December 2022 and about 13% in June 2023. The eyebrows are being raised as this growth is consistently being transferred onto its Net profit levels.
At present, Vinci’s stock price is trading at the level of €103 after rejecting the bearish momentum. The stock has bounced off its immediate support level of €101 thrice in 2 months. furthermore, the second support level is seen down below at the level of €95.6
The first and the immediate resistance to the bulls will be at the level of €108. It is a wide supply zone that could be hard for the bulls to break past. Meanwhile, the second resistance is made at an all-time high level of €112.
What the Indicators are Showing?
Indicators like MACD are showing something interesting between these supports and resistances. The MACD line made a bearish crossover with its EMA during the starting days of August. However, a bullish crossover is visible at present because the MACD is above -0.63 and its EMA is at -0.91.
The RSI graph indicates a similar but a higher spike. The RSI line came above 53 after touching its oversold zone of 34. Its SMA is currently at the level of 42 and made a bullish crossover with the RSI line 5 days ago.
The EMAs at last, are closing down for a touchpoint and a possible crossover. As the stock price got slightly bearish after reaching an all-time high, the 50 and the 200-day EMA are seen closing down.
The 50 EMA is at the level of €104 and is likely to give some price rejection to the bulls. The current price is trading at the nearby level. The 200 EMA on the other hand is at the level of €103. The bulls have broken past this level.
What is the Price Prediction for the Vinci stock?
The Vinci stock price prediction will be based on the price action after interacting with its EMAs. The bulls are currently fighting to get above the 50 EMA with a bullish momentum supported by technical levels.
Technical Levels
Support: €101.24, €95.6
Resistance: €108.20, €112.18
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.