Enstar Group Limited Stock Forecast
Green day on Friday for Enstar Group Limited
(Updated on May 17, 2024)
The Enstar Group Limited stock price gained 0.350% on the last trading day (Friday, 17th May 2024), rising from $308.92 to $310.00. During the last trading day the stock fluctuated 1.70% from a day low at $306.24 to a day high of $311.46. The price has risen in 6 of the last 10 days and is up by 3.77% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 49 thousand shares were bought and sold for approximately $15.26 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $312.02 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Enstar Group Limited stock with a 90% probability to be traded between $278.21 and $313.25 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ESGR Signals & Forecast
The Enstar Group Limited 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 $309.00 and $294.84. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -0.628%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Tuesday, May 14, 2024 and based on theory for this formation the price should fall by -18.25% to $253.43 within 32 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Enstar Group Limited stock
Enstar Group Limited finds support from accumulated volume at $308.77 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 $5.22 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: $299.79 (-3.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ESGR) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Enstar Group Limited to open at $309.23, and during the day (based on 14 day Average True Range), to move between $303.07 and $316.93, which gives a possible trading interval of +/-$6.93 (+/-2.24%) up or down from last closing price. If Enstar Group Limited takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $310.76 (0.25%) than the support at $308.77 (0.40%), 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 Enstar Group Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Enstar Group Limited stock to perform well in the short-term period.
Current score: 4.349 Buy Candidate Unchanged
Predicted Opening Price for Enstar Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $309.23 ( 0.248%) | $310.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESGR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 314.45 | 1.44 % | |
| R2 | 312.46 | 0.792 % | ||
| R1 | 311.22 | 0.395 % | ||
| Current price: | 310.00 | |||
| Support | S1 | 307.24 | -0.89 % | |
| S2 | 306.00 | -1.29 % | ||
| S3 | 304.01 | -1.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 311.96 | 0.632 % | |
| R2 | 311.94 | 0.626 % | ||
| R1 | 310.76 | 0.245 % | ||
| Current price | 310.00 | |||
| Support | S1 | 308.77 | -0.397% | |
| S2 | 305.96 | -1.30% | ||
| S3 | 299.02 | -3.54% |
ESGR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 08, 2007 | Jan 31, 2007 | Jan 30, 2007 | $3.00 | 2.89% |
FAQ
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