Euronet Worldwide Stock Forecast

Euronet Worldwide stock downgraded to Hold/Accumulate
(Updated on May 07, 2024)

EEFT Signals & Forecast

The Euronet Worldwide 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 $107.69 and $106.68. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and 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. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for Euronet Worldwide stock

Euronet Worldwide finds support from accumulated volume at $107.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.75 between high and low, or 2.46%. For the last week, the stock has had daily average volatility of 4.44%.

The Euronet Worldwide stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $108.57 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (EEFT) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Euronet Worldwide to open at $112.95, and during the day (based on 14 day Average True Range), to move between $109.39 and $115.43, which gives a possible trading interval of +/-$3.02 (+/-2.68%) up or down from last closing price. If Euronet Worldwide takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $107.36, some $5.05 (4.49%) from the current price of $112.41, our system finds the risk reward attractive.

Is Euronet Worldwide stock A Buy?

Euronet Worldwide 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: 0.910 Hold/Accumulate Downgraded

Predicted Opening Price for Euronet Worldwide of Wednesday, May 8, 2024

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