Encompass Health Corporation Stock Forecast
Red day on Friday for Encompass Health Corporation
(Updated on May 03, 2024)
The Encompass Health Corporation stock price fell by -0.252% on the last day (Friday, 3rd May 2024) from $83.42 to $83.21. During the last trading day the stock fluctuated 1.45% from a day low at $82.83 to a day high of $84.03. The price has been going up and down for this period, and there has been a 5.04% gain for the last 2 weeks. Volume has increased on the last day by 141 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 598 thousand shares were bought and sold for approximately $49.73 million.
The stock lies in the middle of a narrow and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.85% during the next 3 months and, with a 90% probability hold a price between $93.46 and $97.76 at the end of this 3-month period.
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EHC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.514%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Encompass Health Corporation 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 $83.10 and $80.48. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Encompass Health Corporation stock
Encompass Health Corporation finds support from accumulated volume at $82.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.20 between high and low, or 1.45%. For the last week the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: $80.79 (-2.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (EHC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Encompass Health Corporation to open at $83.36, and during the day (based on 14 day Average True Range), to move between $81.61 and $84.81, which gives a possible trading interval of +/-$1.60 (+/-1.92%) up or down from last closing price. If Encompass Health Corporation takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $83.23 (0.02%) than the support at $82.73 (0.58%), 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 Encompass Health Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Encompass Health Corporation stock to perform well in the short-term.
Current score: 3.342 Buy Candidate Unchanged
Predicted Opening Price for Encompass Health Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $83.36 ( 0.176%) | $83.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EHC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.56 | 1.62 % | |
| R2 | 84.10 | 1.07 % | ||
| R1 | 83.82 | 0.727 % | ||
| Current price: | 83.21 | |||
| Support | S1 | 82.90 | -0.375 % | |
| S2 | 82.62 | -0.715 % | ||
| S3 | 82.16 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.38 | 0.204 % | |
| R2 | 83.36 | 0.180 % | ||
| R1 | 83.23 | 0.0240 % | ||
| Current price | 83.21 | |||
| Support | S1 | 82.73 | -0.577% | |
| S2 | 82.58 | -0.757% | ||
| S3 | 73.45 | -11.73% |
EHC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | $0 | 0% |
| 2 | Oct 19, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.150 | 0.210% |
| 3 | Jul 20, 2023 | Sep 29, 2023 | Oct 16, 2023 | $0.150 | 0.235% |
| 4 | Aug 06, 2023 | Jun 30, 2023 | Jul 17, 2023 | $0.150 | 0.222% |
| 5 | Feb 23, 2023 | Mar 31, 2023 | Apr 17, 2023 | $0.150 | 0.244% |
FAQ
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