ENI SpA Stock Forecast
Evaluation of ENI SpA stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The ENI SpA stock price gained 0.794% on the last trading day (Thursday, 28th Mar 2024), rising from $31.47 to $31.72. During the last trading day the stock fluctuated 0.586% from a day low at $31.56 to a day high of $31.75. The price has been going up and down for this period, and there has been a -0.5% loss for the last 2 weeks. Volume fell on the last day by -64 thousand shares and in total, 97 thousand shares were bought and sold for approximately $3.06 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.18% during the next 3 months and, with a 90% probability hold a price between $28.11 and $30.76 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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E Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -3.17%. 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). The ENI SpA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $31.32 and $31.28. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for ENI SpA stock
ENI SpA finds support from accumulated volume at $31.19 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.185 between high and low, or 0.586%. For the last week the stock has had daily average volatility of 0.616%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (E) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ENI SpA to open at $31.68, and during the day (based on 14 day Average True Range), to move between $31.26 and $32.18, which gives a possible trading interval of +/-$0.458 (+/-1.44%) up or down from last closing price. If ENI SpA takes out the full calculated possible swing range there will be an estimated 2.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.95 (0.73%) than the support at $31.19 (1.67%), 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 ENI SpA stock A Buy?
ENI SpA 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: -1.556 Sell Candidate Downgraded
Predicted Opening Price for ENI SpA of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$31.68 ( 0.142%) | $31.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for E
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.86 | 0.441 % | |
R2 | 31.79 | 0.219 % | ||
R1 | 31.75 | 0.0809 % | ||
Current price: | 31.72 | |||
Support | S1 | 31.60 | -0.365 % | |
S2 | 31.56 | -0.502 % | ||
S3 | 31.49 | -0.725 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.53 | 2.55 % | |
R2 | 31.99 | 0.85 % | ||
R1 | 31.95 | 0.725 % | ||
Current price | 31.72 | |||
Support | S1 | 31.19 | -1.67% | |
S2 | 30.91 | -2.55% | ||
S3 | 30.79 | -2.93% |
E Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Apr 08, 2024 | $0.364 | 1.15% |
2 | Oct 31, 2023 | Nov 20, 2023 | Dec 07, 2023 | $0.340 | 1.07% |
3 | Aug 03, 2023 | Sep 18, 2023 | Oct 06, 2023 | $0.527 | 1.70% |
4 | Apr 04, 2023 | May 22, 2023 | Oct 06, 2023 | $0.472 | 1.52% |
5 | Feb 27, 2023 | Mar 20, 2023 | Apr 07, 2023 | $0.466 | 1.57% |
FAQ
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