EMCOR Group Inc Stock Forecast
Green day on Monday for EMCOR Group Inc
(Updated on Apr 22, 2024)
The EMCOR Group Inc stock price gained 1.21% on the last trading day (Monday, 22nd Apr 2024), rising from $328.63 to $332.59. During the last trading day the stock fluctuated 1.89% from a day low at $328.78 to a day high of $334.99. The price has fallen in 8 of the last 10 days and is down by -7.9% for this period. Volume fell on the last day by -229 thousand shares and in total, 291 thousand shares were bought and sold for approximately $96.78 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $331.17 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 66.68% during the next 3 months and, with a 90% probability hold a price between $552.00 and $654.91 at the end of this 3-month period.
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EME Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The EMCOR Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $340.13 and $340.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -8.88%. 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).
Support, Risk & Stop-loss for EMCOR Group Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $305.45 and $277.47. 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, EMCOR Group Inc finds support just below today's level at $305.45. If this is broken, then the next support from accumulated volume will be at $277.47 and $274.88.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.21 (1.89%) between high and low. For the last week, the stock has had daily average volatility of 2.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EME) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect EMCOR Group Inc to open at $332.12, and during the day (based on 14 day Average True Range), to move between $324.40 and $340.78, which gives a possible trading interval of +/-$8.19 (+/-2.46%) up or down from last closing price. If EMCOR Group Inc takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $339.20 (1.99%) than the support at $305.45 (8.16%), 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.
Earnings coming up
EMCOR Group Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.92. We will update the financials statements for EMCOR Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.63% in the first trading day after earnings release.
Is EMCOR Group Inc stock A Buy?
The EMCOR Group Inc stock holds several negative signals and despite the positive trend, we believe EMCOR Group Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.015 Sell Candidate Unchanged
Predicted Opening Price for EMCOR Group Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $332.12 ( 0.141%) | $332.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EME
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 338.33 | 1.73 % | |
| R2 | 335.96 | 1.01 % | ||
| R1 | 334.49 | 0.572 % | ||
| Current price: | 332.59 | |||
| Support | S1 | 329.75 | -0.86 % | |
| S2 | 328.28 | -1.30 % | ||
| S3 | 325.91 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 350.06 | 5.25 % | |
| R2 | 345.25 | 3.81 % | ||
| R1 | 339.20 | 1.99 % | ||
| Current price | 332.59 | |||
| Support | S1 | 305.45 | -8.16% | |
| S2 | 277.47 | -16.57% | ||
| S3 | 274.88 | -17.35% |
EME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.250 | 0.0752% |
| 2 | Jan 12, 2024 | Jan 12, 2024 | Jan 31, 2024 | $0.180 | 0.0789% |
| 3 | Oct 05, 2023 | Oct 13, 2023 | Oct 30, 2023 | $0.180 | 0.0878% |
| 4 | Jul 07, 2023 | Jul 19, 2023 | Jul 31, 2023 | $0.180 | 0.0837% |
| 5 | Apr 06, 2023 | Apr 14, 2023 | Apr 28, 2023 | $0.180 | 0.105% |
FAQ
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