Enterprise Bancorp Inc Stock Forecast
Weaker technical forecast for Enterprise Bancorp Inc as stock downgraded to Sell Candidate.
(Updated on Apr 22, 2024)
The Enterprise Bancorp Inc stock price gained 1.13% on the last trading day (Monday, 22nd Apr 2024), rising from $23.97 to $24.24. During the last trading day the stock fluctuated 4.51% from a day low at $23.74 to a day high of $24.81. The price has been going up and down for this period, and there has been a -4.87% loss for the last 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 17 thousand shares were bought and sold for approximately $403.45 thousand. 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.56% during the next 3 months and, with a 90% probability hold a price between $18.61 and $20.11 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EBTC Signals & Forecast
There are mixed signals in the stock today. The Enterprise Bancorp Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $25.02. On a fall, the stock will find some support from the short-term average at $23.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 3.63%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Enterprise Bancorp Inc stock
Enterprise Bancorp Inc finds support from accumulated volume at $23.97 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 $1.07 between high and low, or 4.51%. For the last week the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EBTC) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Enterprise Bancorp Inc to open at $24.26, and during the day (based on 14 day Average True Range), to move between $23.40 and $25.08, which gives a possible trading interval of +/-$0.84 (+/-3.48%) up or down from last closing price. If Enterprise Bancorp Inc takes out the full calculated possible swing range there will be an estimated 6.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.97 (1.11%) than the resistance at $25.48 (5.12%), 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
Enterprise Bancorp Inc will release earnings BMO on Tuesday, April 23, 2024. We will update the financials statements for Enterprise Bancorp Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.81% in the first trading day after earnings release.
Is Enterprise Bancorp Inc stock A Buy?
Enterprise Bancorp Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.348 Sell Candidate Downgraded
Predicted Opening Price for Enterprise Bancorp Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $24.26 ( 0.0963%) | $24.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBTC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.33 | 4.51 % | |
| R2 | 24.92 | 2.82 % | ||
| R1 | 24.67 | 1.78 % | ||
| Current price: | 24.24 | |||
| Support | S1 | 23.85 | -1.59 % | |
| S2 | 23.60 | -2.63 % | ||
| S3 | 23.19 | -4.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.86 | 10.81 % | |
| R2 | 26.64 | 9.90 % | ||
| R1 | 25.48 | 5.12 % | ||
| Current price | 24.24 | |||
| Support | S1 | 23.97 | -1.11% | |
| S2 | 23.69 | -2.27% | ||
| S3 | 23.50 | -3.05% |
EBTC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 16, 2024 | Feb 08, 2024 | Mar 01, 2024 | $0.240 | 0.87% |
| 2 | Oct 17, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.230 | 0.81% |
| 3 | Jul 18, 2023 | Aug 10, 2023 | Sep 01, 2023 | $0.230 | 0.789% |
| 4 | Apr 18, 2023 | May 10, 2023 | Jun 01, 2023 | $0.230 | 0.84% |
| 5 | Jan 17, 2023 | Feb 07, 2023 | Mar 01, 2023 | $0.230 | 0.646% |
FAQ
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