Edison International Stock Forecast
Edison International stock price up 0.185% on Thursday
(Updated on May 16, 2024)
The Edison International stock price gained 0.185% on the last trading day (Thursday, 16th May 2024), rising from $75.72 to $75.86. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.772% from a day low at $75.77 to a day high of $76.35. The price has risen in 8 of the last 10 days and is up by 5.41% over the past 2 weeks. Volume fell on the last day by -651 thousand shares and in total, 1 million shares were bought and sold for approximately $94.50 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $73.77, a level that may pose a second chance to hit a runner. According to fan-theory $78.39 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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EIX Signals & Forecast
The Edison International stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $74.92 and $71.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.55%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Edison International stock
On the downside, the stock finds support just below today's level from accumulated volume at $70.82 and $67.42. 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, Edison International finds support just below today's level at $70.82. If this is broken, then the next support from accumulated volume will be at $67.42 and $66.55.
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 $0.585 between high and low, or 0.772%. For the last week, the stock has had daily average volatility of 1.21%.
The Edison International stock is extremely overbought on RSI14 (90). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $72.71 (-4.16%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (EIX) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Edison International to open at $75.99, and during the day (based on 14 day Average True Range), to move between $74.69 and $77.03, which gives a possible trading interval of +/-$1.17 (+/-1.55%) up or down from last closing price. If Edison International takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $70.82, some $5.04 (6.64%) from the current price of $75.86, our system finds the risk reward attractive.
Is Edison International stock A Buy?
Edison International 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.
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 Edison International of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
$75.99 ( 0.174%) | $75.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 76.58 | 0.94 % | |
R2 | 76.35 | 0.650 % | ||
R1 | 76.22 | 0.468 % | ||
Current price: | 75.86 | |||
Support | S1 | 75.77 | -0.121 % | |
S2 | 75.63 | -0.303 % | ||
S3 | 75.41 | -0.598 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 75.86 | |||
Support | S1 | 70.82 | -6.64% | |
S2 | 67.42 | -11.13% | ||
S3 | 66.55 | -12.27% |
EIX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.780 | 1.10% |
2 | Dec 14, 2023 | Dec 29, 2023 | Jan 31, 2024 | $0.780 | 1.16% |
3 | Dec 14, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.780 | 1.16% |
4 | Aug 24, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.740 | 1.17% |
5 | Jun 21, 2023 | Jul 03, 2023 | Jul 31, 2023 | $0.738 | 1.03% |
FAQ
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