RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of EDN
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Weaker technical forecast for Empresa Distribuidora Y Comercializadora as stock downgraded to Hold/Accumulate.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 20, 2024 Loss -2.34% PDF

The Empresa Distribuidora Y Comercializadora stock price gained 0.674% on the last trading day (Wednesday, 27th Mar 2024), rising from $17.80 to $17.92. During the last trading day the stock fluctuated 2.55% from a day low at $17.67 to a day high of $18.12. The price has risen in 6 of the last 10 days and is up by 14.29% over the past 2 weeks. Volume fell on the last day by -32 thousand shares and in total, 21 thousand shares were bought and sold for approximately $374.42 thousand. 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $18.37 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.50% during the next 3 months and, with a 90% probability hold a price between $12.66 and $16.07 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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EDN Signals & Forecast

The Empresa Distribuidora Y Comercializadora 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 $17.91 and $17.38. A breakdown below any of these levels will issue sell signals. 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, March 22, 2024, and so far it has fallen -3.14%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for Empresa Distribuidora Y Comercializadora stock

On the downside, the stock finds support just below today's level from accumulated volume at $16.85 and $15.16. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Empresa Distribuidora Y Comercializadora finds support just below today's level at $16.85. If this is broken, then the next support from accumulated volume will be at $15.16 and $14.85.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.450 between high and low, or 2.55%. For the last week the stock has had daily average volatility of 5.11%.

Our recommended stop-loss: $17.15 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (EDN) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Empresa Distribuidora Y Comercializadora Norte SA (Edenor) to open at $17.90, and during the day (based on 14 day Average True Range), to move between $16.75 and $19.09, which gives a possible trading interval of +/-$1.17 (+/-6.53%) up or down from last closing price. If Empresa Distribuidora Y Comercializadora Norte SA (Edenor) takes out the full calculated possible swing range there will be an estimated 13.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $18.10 (1.00%) than the support at $16.85 (5.97%), 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 Empresa Distribuidora Y Comercializadora Norte SA (Edenor) stock A Buy?

Empresa Distribuidora Y Comercializadora 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: 0.010 Hold/Accumulate Downgraded

Predicted Opening Price for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$17.90 ( 0.0930%) $17.92

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

Trading levels for EDN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 18.35 2.42 %
R2 18.18 1.46 %
R1 18.08 0.87 %
Current price: 17.92
Support S1 17.73 -1.05 %
S2 17.63 -1.64 %
S3 17.45 -2.60 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 20.29 13.23 %
R2 18.35 2.40 %
R1 18.10 1.00 %
Current price 17.92
Support S1 16.85 -5.97%
S2 15.16 -15.40%
S3 14.85 -17.13%

FAQ

What is the symbol for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock and on which exchange is it traded?
The symbol for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) is EDN and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock?
Empresa Distribuidora Y Comercializadora 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.

How to buy Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock?
Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock.

What's the current price of Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock?
As of the end of day on the 2024-03-27, the price of an Empresa Distribuidora Y Comercializadora Norte SA (Edenor) (EDN) share was $17.92.

What is the 52-week high and low for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock?
The 52-week high for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock is $21.72 and the 52-week low is $7.75.

What is the market capitalization of Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Stock?
As of the 2024-03-27, the market capitalization of Empresa Distribuidora Y Comercializadora Norte SA (Edenor) is 1.045B.

When is the next earnings date for Empresa Distribuidora Y Comercializadora Norte SA (Edenor)?
The upcoming earnings date for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) is May 09, 2024.
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About Empresa Distribuidora Y Comercializadora Norte SA (Edenor)

Empresa Distribuidora Y Comercializadora Norte SA (Edenor) Empresa Distribuidora y Comercializadora Norte Sociedad Anónima engages in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is a subsidiary of Empresa de Energía del Cono Sur S.A.... EDN Profile

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