Enova International Inc Stock Forecast
Enova International Inc stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The Enova International Inc stock price gained 1.49% on the last trading day (Friday, 17th May 2024), rising from $61.25 to $62.16. During the last trading day the stock fluctuated 2.20% from a day low at $60.99 to a day high of $62.33. The price has fallen in 6 of the last 10 days but is still up by 0.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 thousand more shares were traded than the day before. In total, 232 thousand shares were bought and sold for approximately $14.43 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Enova International Inc stock with a 90% probability to be traded between $58.99 and $64.70 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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ENVA Signals & Forecast
Mostly positive signals in the chart today. The Enova International Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $62.33. On a fall, the stock will find some support from the long-term average at approximately $61.75. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.69%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Enova International Inc stock
Enova International Inc finds support from accumulated volume at $62.01 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 $1.34 between high and low, or 2.20%. For the last week the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: $58.69 (-5.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ENVA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Enova International Inc to open at $61.83, and during the day (based on 14 day Average True Range), to move between $60.65 and $63.67, which gives a possible trading interval of +/-$1.51 (+/-2.44%) up or down from last closing price. If Enova International Inc takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $62.01 (0.24%) than the resistance at $62.83 (1.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enova International Inc 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 Enova International Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.709 Buy Candidate Upgraded
Predicted Opening Price for Enova International Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $61.83 ( 0.536%) | $62.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENVA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.17 | 1.62 % | |
| R2 | 62.65 | 0.796 % | ||
| R1 | 62.34 | 0.287 % | ||
| Current price: | 62.16 | |||
| Support | S1 | 61.31 | -1.36 % | |
| S2 | 61.00 | -1.87 % | ||
| S3 | 60.49 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.32 | 3.47 % | |
| R2 | 63.54 | 2.22 % | ||
| R1 | 62.83 | 1.08 % | ||
| Current price | 62.16 | |||
| Support | S1 | 62.01 | -0.241% | |
| S2 | 61.38 | -1.25% | ||
| S3 | 60.47 | -2.72% |
FAQ
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