The Ensign Group Stock Forecast
Evaluation of The Ensign Group stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The The Ensign Group stock price fell by -0.0341% on the last day (Friday, 26th Apr 2024) from $117.29 to $117.25. During the last trading day the stock fluctuated 2.90% from a day low at $115.71 to a day high of $119.06. The price has fallen in 6 of the last 10 days and is down by -1.7% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -63 thousand shares and in total, 150 thousand shares were bought and sold for approximately $17.64 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $116.46 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect The Ensign Group stock with a 90% probability to be traded between $116.23 and $125.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ENSG Signals & Forecast
There are mixed signals in the stock today. The The Ensign Group 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 $117.68 and $120.94. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.661%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Ensign Group stock
The Ensign Group finds support from accumulated volume at $117.23 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 $3.35 between high and low, or 2.90%. For the last week the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $110.29 (-5.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ENSG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect The Ensign Group to open at $117.34, and during the day (based on 14 day Average True Range), to move between $114.77 and $119.73, which gives a possible trading interval of +/-$2.48 (+/-2.12%) up or down from last closing price. If The Ensign Group takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $117.23 (0.02%) than the resistance at $120.78 (3.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Ensign Group stock A Buy?
The Ensign Group 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: 0.450 Hold/Accumulate Downgraded
Predicted Opening Price for The Ensign Group of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $117.34 ( 0.0777%) | $117.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENSG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.69 | 2.94 % | |
| R2 | 119.41 | 1.85 % | ||
| R1 | 118.62 | 1.17 % | ||
| Current price: | 117.25 | |||
| Support | S1 | 116.06 | -1.01 % | |
| S2 | 115.27 | -1.69 % | ||
| S3 | 113.99 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.69 | 4.64 % | |
| R2 | 121.34 | 3.49 % | ||
| R1 | 120.78 | 3.01 % | ||
| Current price | 117.25 | |||
| Support | S1 | 117.23 | -0.0171% | |
| S2 | 115.35 | -1.62% | ||
| S3 | 113.22 | -3.44% |
ENSG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.0600 | 0.0511% |
| 2 | Dec 15, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.0600 | 0.0530% |
| 3 | Sep 15, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.0600 | 0.0621% |
| 4 | Jun 16, 2023 | Jun 29, 2023 | Jul 31, 2023 | $0.0580 | 0.0599% |
| 5 | Mar 17, 2023 | Mar 30, 2023 | Apr 28, 2023 | $0.0580 | 0.0597% |
FAQ
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