Sika AG (SIKA.CH)

Close: 242.90 (+2.40), Nov 1, 2024

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Overall analysis

Automatic technical analysis. Medium term, Nov 1, 2024

Sika AG is within an approximate horizontal trend channel in the medium long term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The stock gave a negative signal from the rectangle formation by the break down through the support at 244. Further fall to 208 or lower is signaled. The stock is approaching support at 240 euro, which may give a positive reaction. However, a break downwards through 240 euro will be a negative signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the stock and indicates increased chance of a break down. RSI is below 30 after the falling prices of the past weeks. The stock has strong negative momentum and further decline is indicated. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well.