Entergy New Orleans Inc. 1st Mtg Bd ETF Forecast

Red day on Monday for Entergy New Orleans Inc. 1st Mtg Bd ETF after losing 2.85%
(Updated on Apr 15, 2024)

ENO Signals & Forecast

There are few to no technical positive signals at the moment. The Entergy New Orleans Inc. 1st Mtg Bd ETF 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 $23.47 and $24.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -8.88%. 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). Entergy New Orleans Inc. 1st Mtg Bd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Entergy New Orleans Inc. 1st Mtg Bd ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.540 between high and low, or 2.40%. For the last week the ETF has had daily average volatility of 1.28%.

Entergy New Orleans Inc. 1st Mtg Bd is oversold on RSI14 (16). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (ENO) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 to open at $22.64, and during the day (based on 14 day Average True Range), to move between $22.19 and $22.73, which gives a possible trading interval of +/-$0.272 (+/-1.21%) up or down from last closing price. If Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 takes out the full calculated possible swing range there will be an estimated 2.43% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $23.38, some $0.92 (4.10%) from the current price of $22.46, our system finds the risk reward not very attractive.

Is Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 ETF A Buy?

Entergy New Orleans Inc. 1st Mtg Bd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Current score: -1.071 Sell Candidate Unchanged

Predicted Opening Price for Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 of Tuesday, April 16, 2024

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