Icahn Enterprises Stock Forecast
Icahn Enterprises stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Icahn Enterprises stock price gained 0.651% on the last trading day (Friday, 19th Apr 2024), rising from $16.89 to $17.00. During the last trading day the stock fluctuated 2.03% from a day low at $16.78 to a day high of $17.12. The price has fallen in 6 of the last 10 days and is down by -0.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 290 thousand more shares were traded than the day before. In total, 656 thousand shares were bought and sold for approximately $11.16 million.
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 $16.33 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.31% during the next 3 months and, with a 90% probability hold a price between $14.65 and $17.92 at the end of this 3-month period.
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IEP Signals & Forecast
There are mixed signals in the stock today. The Icahn Enterprises 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 $17.15 and $17.55. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 1.13%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Icahn Enterprises stock
Icahn Enterprises finds support from accumulated volume at $16.97 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 $0.340 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $16.01 (-5.82%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (IEP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Icahn Enterprises L.P. to open at $16.97, and during the day (based on 14 day Average True Range), to move between $16.60 and $17.40, which gives a possible trading interval of +/-$0.402 (+/-2.36%) up or down from last closing price. If Icahn Enterprises L.P. takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.97 (0.18%) than the resistance at $18.09 (6.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Icahn Enterprises L.P. stock A Buy?
Icahn Enterprises 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.718 Hold/Accumulate Upgraded
Predicted Opening Price for Icahn Enterprises L.P. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $16.97 ( 0.196%) | $17.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.31 | 1.80 % | |
| R2 | 17.18 | 1.04 % | ||
| R1 | 17.10 | 0.568 % | ||
| Current price: | 17.00 | |||
| Support | S1 | 16.84 | -0.96 % | |
| S2 | 16.76 | -1.43 % | ||
| S3 | 16.63 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.67 | 15.71 % | |
| R2 | 19.52 | 14.82 % | ||
| R1 | 18.09 | 6.41 % | ||
| Current price | 17.00 | |||
| Support | S1 | 16.97 | -0.176% | |
| S2 | 16.89 | -0.647% | ||
| S3 | 16.81 | -1.12% |
IEP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Mar 08, 2024 | Apr 18, 2024 | $1.00 | 5.92% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | $0 | 0% |
| 3 | Aug 02, 2023 | Aug 17, 2023 | Sep 27, 2023 | $1.00 | 5.07% |
| 4 | May 09, 2023 | May 19, 2023 | Jun 30, 2023 | $2.00 | 6.89% |
| 5 | Feb 22, 2023 | Mar 10, 2023 | Apr 19, 2023 | $2.00 | 3.85% |
FAQ
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