Eagle Bulk Shipping Stock Forecast
Red day on Thursday for Eagle Bulk Shipping
(Updated on Apr 18, 2024)
No changes to the price of Eagle Bulk Shipping stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 0% from a day low at $62.60 to a day high of $62.60. The price has been going up and down for this period, and there has been a 0.37% gain for the last 2 weeks.
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 $62.48 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 17.13% during the next 3 months and, with a 90% probability hold a price between $73.18 and $80.84 at the end of this 3-month period.
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EGLE Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eagle Bulk Shipping 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 $62.60 and $62.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -0.714%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Eagle Bulk Shipping stock
Eagle Bulk Shipping finds support from accumulated volume at $62.37 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $60.04 (-4.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (EGLE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Eagle Bulk Shipping Inc. to open at $62.60, and during the day (based on 14 day Average True Range), to move between $61.68 and $63.52, which gives a possible trading interval of +/-$0.92 (+/-1.46%) up or down from last closing price. If Eagle Bulk Shipping Inc. takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $62.37 (0.37%) than the resistance at $62.98 (0.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eagle Bulk Shipping Inc. stock A Buy?
Eagle Bulk Shipping 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Eagle Bulk Shipping Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $62.60 ( 0%) | $62.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGLE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.60 | . | |
| R2 | 62.60 | . | ||
| R1 | 62.60 | . | ||
| Current price: | 62.60 | |||
| Support | S1 | 62.60 | . | |
| S2 | 62.60 | . | ||
| S3 | 62.60 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.42 | 2.91 % | |
| R2 | 63.05 | 0.719 % | ||
| R1 | 62.98 | 0.607 % | ||
| Current price | 62.60 | |||
| Support | S1 | 62.37 | -0.367% | |
| S2 | 61.00 | -2.56% | ||
| S3 | 54.86 | -12.36% |
EGLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Mar 21, 2024 | $0.600 | 0.94% |
| 2 | Nov 02, 2023 | Nov 13, 2023 | Nov 22, 2023 | $0.100 | 0.233% |
| 3 | Aug 03, 2023 | Aug 15, 2023 | Aug 24, 2023 | $0.580 | 1.38% |
| 4 | May 04, 2023 | May 16, 2023 | May 25, 2023 | $0.100 | 0.243% |
| 5 | Mar 02, 2023 | Mar 14, 2023 | Mar 23, 2023 | $0.600 | 1.28% |
FAQ
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