Erie Indemnity Company Stock Forecast

Green day on Friday for Erie Indemnity Company
(Updated on Apr 19, 2024)

ERIE Signals & Forecast

There are mixed signals in the stock today. The Erie Indemnity Company stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $400.59. On a fall, the stock will find some support from the short-term average at $380.78. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -8.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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 Erie Indemnity Company stock

On the downside, the stock finds support just below today's level from accumulated volume at $355.48 and $345.83. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Erie Indemnity Company finds support just below today's level at $355.48. If this is broken, then the next support from accumulated volume will be at $345.83 and $337.54.

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 $4.96 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 1.69%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ERIE) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Erie Indemnity Company to open at $382.28, and during the day (based on 14 day Average True Range), to move between $373.83 and $389.29, which gives a possible trading interval of +/-$7.73 (+/-2.03%) up or down from last closing price. If Erie Indemnity Company takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $389.34 (2.04%) than the support at $355.48 (6.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Erie Indemnity Company stock A Buy?

Erie Indemnity Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.141 Sell Candidate Unchanged

Predicted Opening Price for Erie Indemnity Company of Monday, April 22, 2024

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