Energy Recovery Stock Forecast
Stronger technical forecast for Energy Recovery stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Energy Recovery stock price gained 1.50% on the last trading day (Thursday, 25th Apr 2024), rising from $13.98 to $14.19. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.01% from a day low at $13.56 to a day high of $14.24. The price has risen in 6 of the last 10 days but is still down by -4.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 119 thousand more shares were traded than the day before. In total, 372 thousand shares were bought and sold for approximately $5.28 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.40% during the next 3 months and, with a 90% probability hold a price between $11.72 and $13.96 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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ERII Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.88%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Energy Recovery 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 $14.74. On a fall, the stock will find some support from the short-term average at $13.81. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Energy Recovery stock
Energy Recovery finds support from accumulated volume at $14.04 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.680 between high and low, or 5.01%. For the last week, the stock has had daily average volatility of 3.07%.
Since the Energy Recovery has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $13.50 (-4.85%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ERII) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Energy Recovery to open at $14.00, and during the day (based on 14 day Average True Range), to move between $13.64 and $14.74, which gives a possible trading interval of +/-$0.549 (+/-3.87%) up or down from last closing price. If Energy Recovery takes out the full calculated possible swing range there will be an estimated 7.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.04 (1.06%) than the resistance at $14.82 (4.44%), 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
Energy Recovery will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.110. We will update the financials statements for Energy Recovery, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.08% in the first trading day after earnings release.
Is Energy Recovery stock A Buy?
Energy Recovery 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: -0.900 Hold/Accumulate Upgraded
Predicted Opening Price for Energy Recovery of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $14.00 ( 1.36%) | $14.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.68 | 3.43 % | |
| R2 | 14.42 | 1.60 % | ||
| R1 | 14.26 | 0.468 % | ||
| Current price: | 14.19 | |||
| Support | S1 | 13.74 | -3.19 % | |
| S2 | 13.58 | -4.32 % | ||
| S3 | 13.32 | -6.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.51 | 9.30 % | |
| R2 | 15.11 | 6.48 % | ||
| R1 | 14.82 | 4.44 % | ||
| Current price | 14.19 | |||
| Support | S1 | 14.04 | -1.06% | |
| S2 | 13.98 | -1.48% | ||
| S3 | 13.53 | -4.65% |
FAQ
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