Enterprise Bancorp Inc Stock Forecast
Enterprise Bancorp Inc stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Enterprise Bancorp Inc stock price gained 1.51% on the last trading day (Wednesday, 24th Apr 2024), rising from $24.43 to $24.80. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.76% from a day low at $24.27 to a day high of $24.94. The price has risen in 7 of the last 10 days and is up by 4.69% 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, 10 thousand more shares were traded than the day before. In total, 27 thousand shares were bought and sold for approximately $663.20 thousand.
Given the current short-term trend, the stock is expected to fall -17.73% during the next 3 months and, with a 90% probability hold a price between $18.67 and $20.40 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
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 6.03%. Further rise is indicated until a new top pivot has been found. Enterprise Bancorp Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $24.88. On a fall, the stock will find some support from the short-term average at $24.01. 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).
Support, Risk & Stop-loss for Enterprise Bancorp Inc stock
Enterprise Bancorp Inc finds support from accumulated volume at $24.70 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.670 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: $23.67 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (EBTC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Enterprise Bancorp Inc to open at $24.67, and during the day (based on 14 day Average True Range), to move between $24.00 and $25.60, which gives a possible trading interval of +/-$0.80 (+/-3.23%) up or down from last closing price. If Enterprise Bancorp Inc takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.70 (0.40%) than the resistance at $25.48 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enterprise Bancorp Inc stock A Buy?
Enterprise Bancorp 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.403 Hold/Accumulate Upgraded
Predicted Opening Price for Enterprise Bancorp Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$24.67 ( 0.524%) | $24.80 |
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 | 25.34 | 2.18 % | |
R2 | 25.08 | 1.15 % | ||
R1 | 24.93 | 0.508 % | ||
Current price: | 24.80 | |||
Support | S1 | 24.41 | -1.56 % | |
S2 | 24.26 | -2.19 % | ||
S3 | 24.00 | -3.23 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.86 | 8.31 % | |
R2 | 26.64 | 7.42 % | ||
R1 | 25.48 | 2.74 % | ||
Current price | 24.80 | |||
Support | S1 | 24.70 | -0.403% | |
S2 | 23.69 | -4.48% | ||
S3 | 23.50 | -5.24% |
EBTC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 16, 2024 | May 10, 2024 | Jun 03, 2024 | $0.240 | 0.97% |
2 | Jan 16, 2024 | Feb 08, 2024 | Mar 01, 2024 | $0.240 | 0.87% |
3 | Oct 17, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.230 | 0.81% |
4 | Jul 18, 2023 | Aug 10, 2023 | Sep 01, 2023 | $0.230 | 0.789% |
5 | Apr 18, 2023 | May 10, 2023 | Jun 01, 2023 | $0.230 | 0.84% |
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