ENI SpA Stock Forecast
ENI SpA stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The ENI SpA stock price gained 0.614% on the last trading day (Thursday, 25th Apr 2024), rising from $32.59 to $32.79. During the last trading day the stock fluctuated 1.33% from a day low at $32.45 to a day high of $32.88. The price has risen in 6 of the last 10 days but is still down by -0.52% for this period. Volume fell on the last day by -220 thousand shares and in total, 144 thousand shares were bought and sold for approximately $4.71 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 stock lies in the middle of a 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 5.79% during the next 3 months and, with a 90% probability hold a price between $33.46 and $36.15 at the end of this 3-month period.
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E Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -2.84%. 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). The ENI SpA 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 $32.66 and $32.31. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for ENI SpA stock
ENI SpA finds support from accumulated volume at $31.95 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 $0.430 (1.33%) between high and low. For the last week, the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: $31.46 (-4.06%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (E) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ENI SpA to open at $32.71, and during the day (based on 14 day Average True Range), to move between $32.27 and $33.31, which gives a possible trading interval of +/-$0.522 (+/-1.59%) up or down from last closing price. If ENI SpA takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.86 (0.21%) than the support at $31.95 (2.56%), 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 ENI SpA 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 ENI SpA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.274 Buy Candidate Upgraded
Predicted Opening Price for ENI SpA of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $32.71 ( 0.254%) | $32.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for E
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.14 | 1.06 % | |
| R2 | 32.97 | 0.556 % | ||
| R1 | 32.87 | 0.247 % | ||
| Current price: | 32.79 | |||
| Support | S1 | 32.54 | -0.755 % | |
| S2 | 32.44 | -1.06 % | ||
| S3 | 32.28 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.66 | 2.65 % | |
| R2 | 33.21 | 1.28 % | ||
| R1 | 32.86 | 0.213 % | ||
| Current price | 32.79 | |||
| Support | S1 | 31.95 | -2.56% | |
| S2 | 30.91 | -5.73% | ||
| S3 | 30.79 | -6.10% |
E Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 15, 2024 | May 20, 2024 | Jun 07, 2024 | $0.349 | 1.06% |
| 2 | Mar 18, 2024 | Mar 18, 2024 | Apr 08, 2024 | $0.364 | 1.08% |
| 3 | Oct 31, 2023 | Nov 20, 2023 | Dec 07, 2023 | $0.340 | 1.07% |
| 4 | Aug 03, 2023 | Sep 18, 2023 | Oct 06, 2023 | $0.527 | 1.70% |
| 5 | Apr 04, 2023 | May 22, 2023 | Oct 06, 2023 | $0.472 | 1.52% |
FAQ
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