ESSA Bancorp Stock Forecast
Stronger technical forecast for ESSA Bancorp stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The ESSA Bancorp stock price gained 2.00% on the last trading day (Tuesday, 23rd Apr 2024), rising from $16.00 to $16.32. During the last trading day the stock fluctuated 1.27% from a day low at $16.19 to a day high of $16.40. The price has been going up and down for this period, and there has been a -6.48% loss for the last 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 15 thousand shares were bought and sold for approximately $241.42 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 in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.96 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.24% during the next 3 months and, with a 90% probability hold a price between $14.01 and $15.74 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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ESSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ESSA Bancorp 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 $16.66 and $17.32. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ESSA Bancorp stock
ESSA Bancorp finds support from accumulated volume at $16.08 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.205 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: $15.53 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ESSA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ESSA Bancorp to open at $16.30, and during the day (based on 14 day Average True Range), to move between $15.71 and $16.93, which gives a possible trading interval of +/-$0.612 (+/-3.75%) up or down from last closing price. If ESSA Bancorp takes out the full calculated possible swing range there will be an estimated 7.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.08 (1.50%) than the resistance at $17.21 (5.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
ESSA Bancorp will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for ESSA Bancorp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.26% in the first trading day after earnings release.
Is ESSA Bancorp stock A Buy?
ESSA Bancorp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.432 Hold/Accumulate Upgraded
Predicted Opening Price for ESSA Bancorp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $16.30 ( 0.112%) | $16.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESSA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.51 | 1.14 % | |
| R2 | 16.43 | 0.664 % | ||
| R1 | 16.38 | 0.368 % | ||
| Current price: | 16.32 | |||
| Support | S1 | 16.22 | -0.592 % | |
| S2 | 16.17 | -0.89 % | ||
| S3 | 16.10 | -1.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.44 | 12.99 % | |
| R2 | 17.33 | 6.19 % | ||
| R1 | 17.21 | 5.45 % | ||
| Current price | 16.32 | |||
| Support | S1 | 16.08 | -1.50% | |
| S2 | 16.00 | -1.96% | ||
| S3 | 0 | . |
ESSA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.150 | 0.82% |
| 2 | Nov 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.150 | 0.749% |
| 3 | Aug 23, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.150 | 1.00% |
| 4 | May 23, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.150 | 1.00% |
| 5 | Feb 28, 2023 | Mar 15, 2023 | Mar 31, 2023 | $0.150 | 0.95% |
FAQ
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