Envirostar Inc Stock Forecast
Envirostar Inc stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Envirostar Inc stock price fell by -1.89% on the last day (Friday, 3rd May 2024) from $23.24 to $22.80. During the last trading day the stock fluctuated 8.32% from a day low at $21.87 to a day high of $23.69. The price has fallen in 6 of the last 10 days but is still up by 3.73% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 6 thousand shares were bought and sold for approximately $138.08 thousand.
The stock lies in the middle of a very wide and weak 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 2.17% during the next 3 months and, with a 90% probability hold a price between $20.51 and $26.29 at the end of this 3-month period.
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EVI Signals & Forecast
The Envirostar Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.59 and $22.76. 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). 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 Thursday, May 02, 2024, and so far it has fallen -1.89%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Envirostar Inc stock
Envirostar Inc finds support from accumulated volume at $22.08 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.82 between high and low, or 8.32%. For the last week the stock has had daily average volatility of 5.97%.
Our recommended stop-loss: $21.75 (-4.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (EVI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Envirostar Inc to open at $22.79, and during the day (based on 14 day Average True Range), to move between $21.57 and $24.03, which gives a possible trading interval of +/-$1.23 (+/-5.40%) up or down from last closing price. If Envirostar Inc takes out the full calculated possible swing range there will be an estimated 10.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.08 (3.16%) than the resistance at $24.01 (5.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Envirostar Inc will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Envirostar Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.61% in the first trading day after earnings release.
Is Envirostar Inc stock A Buy?
Envirostar Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.054 Hold/Accumulate Downgraded
Predicted Opening Price for Envirostar Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $22.79 ( 0.0583%) | $22.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.61 | 7.92 % | |
| R2 | 23.91 | 4.87 % | ||
| R1 | 23.48 | 2.99 % | ||
| Current price: | 22.80 | |||
| Support | S1 | 22.09 | -3.11 % | |
| S2 | 21.66 | -4.99 % | ||
| S3 | 20.97 | -8.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.50 | 7.46 % | |
| R2 | 24.10 | 5.70 % | ||
| R1 | 24.01 | 5.31 % | ||
| Current price | 22.80 | |||
| Support | S1 | 22.08 | -3.16% | |
| S2 | 21.26 | -6.75% | ||
| S3 | 21.18 | -7.11% |
EVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 04, 2023 | Oct 13, 2023 | Oct 26, 2023 | $0.280 | 1.12% |
| 2 | Dec 11, 2018 | Dec 24, 2018 | Jan 08, 2019 | $0.130 | 0.369% |
| 3 | Dec 12, 2017 | Dec 22, 2017 | Jan 09, 2018 | $0.120 | 0.319% |
| 4 | Nov 30, 2016 | Dec 19, 2016 | Jan 06, 2017 | $0.100 | 0.692% |
| 5 | Nov 13, 2015 | Dec 02, 2015 | Dec 18, 2015 | $0.200 | 5.71% |
FAQ
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