Emerson Electric Company Stock Forecast
Emerson Electric Company stock price down 1.80% on Tuesday
(Updated on Apr 30, 2024)
The Emerson Electric Company stock price fell by -1.80% on the last day (Tuesday, 30th Apr 2024) from $109.76 to $107.78. During the last trading day the stock fluctuated 2.15% from a day low at $107.59 to a day high of $109.90. The price has fallen in 7 of the last 10 days and is down by -3.33% for this period. Volume has increased on the last day by 1 million 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, 3 million shares were bought and sold for approximately $326.86 million.
The stock lies in the middle of a wide 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 12.67% during the next 3 months and, with a 90% probability hold a price between $118.31 and $133.06 at the end of this 3-month period.
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EMR Signals & Forecast
There are few to no technical positive signals at the moment. The Emerson Electric Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $109.29 and $111.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -6.01%. 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.
Support, Risk & Stop-loss for Emerson Electric Company stock
Emerson Electric Company finds support from accumulated volume at $106.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.31 (2.15%) between high and low. For the last week, the stock has had daily average volatility of 1.81%.
Emerson Electric Company is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMR) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Emerson Electric Company to open at $108.42, and during the day (based on 14 day Average True Range), to move between $106.00 and $109.56, which gives a possible trading interval of +/-$1.78 (+/-1.65%) up or down from last closing price. If Emerson Electric Company takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $109.02 (1.15%) than the support at $106.24 (1.43%), 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.
Earnings coming up
Emerson Electric Company will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.26. We will update the financials statements for Emerson Electric Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.92% in the first trading day after earnings release.
Is Emerson Electric Company stock A Buy?
The Emerson Electric Company stock holds several negative signals and despite the positive trend, we believe Emerson Electric Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.071 Sell Candidate Unchanged
Predicted Opening Price for Emerson Electric Company of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $108.42 ( 0.597%) | $107.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.73 | 2.74 % | |
| R2 | 109.85 | 1.92 % | ||
| R1 | 109.31 | 1.42 % | ||
| Current price: | 107.78 | |||
| Support | S1 | 107.54 | -0.222 % | |
| S2 | 107.00 | -0.728 % | ||
| S3 | 106.11 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.54 | 5.34 % | |
| R2 | 109.51 | 1.61 % | ||
| R1 | 109.02 | 1.15 % | ||
| Current price | 107.78 | |||
| Support | S1 | 106.24 | -1.43% | |
| S2 | 104.09 | -3.42% | ||
| S3 | 102.38 | -5.01% |
EMR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 15, 2024 | Mar 11, 2024 | $0.525 | 0.479% |
| 2 | Nov 07, 2023 | Nov 16, 2023 | Dec 11, 2023 | $0.525 | 0.585% |
| 3 | Aug 02, 2023 | Aug 10, 2023 | Sep 11, 2023 | $0.520 | 0.519% |
| 4 | May 03, 2023 | May 11, 2023 | Jun 09, 2023 | $0.520 | 0.618% |
| 5 | Feb 08, 2023 | Feb 16, 2023 | Mar 10, 2023 | $0.520 | 0.633% |
FAQ
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