Ellsworth Fund Ltd Stock Forecast
Ellsworth Fund Ltd stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Ellsworth Fund Ltd stock price gained 0.747% on the last trading day (Friday, 31st May 2024), rising from $8.03 to $8.09. During the last trading day the stock fluctuated 0.561% from a day low at $8.05 to a day high of $8.10. The price has risen in 6 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 625 more shares were traded than the day before. In total, 18 thousand shares were bought and sold for approximately $146.86 thousand.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $8.18 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Ellsworth Fund Ltd stock with a 90% probability to be traded between $7.48 and $8.11 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ECF Signals & Forecast
The Ellsworth Fund Ltd 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 $8.09 and $7.89. A breakdown below any of these levels will issue sell signals. Ellsworth Fund Ltd 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. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -1.22%. 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).
Support, Risk & Stop-loss for Ellsworth Fund Ltd stock
Ellsworth Fund Ltd finds support from accumulated volume at $8.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0452 between high and low, or 0.561%. For the last week the stock has had daily average volatility of 0.749%.
Our recommended stop-loss: $7.77 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (ECF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Ellsworth Fund Ltd to open at $8.08, and during the day (based on 14 day Average True Range), to move between $8.01 and $8.17, which gives a possible trading interval of +/-$0.0781 (+/-0.97%) up or down from last closing price. If Ellsworth Fund Ltd takes out the full calculated possible swing range there will be an estimated 1.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.10 (0.12%) than the support at $8.08 (0.12%), 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 Ellsworth Fund Ltd stock A Buy?
Ellsworth Fund Ltd 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: -0.069 Hold/Accumulate Upgraded
Predicted Opening Price for Ellsworth Fund Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $8.08 ( 0.143%) | $8.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.12 | 0.415 % | |
| R2 | 8.11 | 0.202 % | ||
| R1 | 8.10 | 0.0700 % | ||
| Current price: | 8.09 | |||
| Support | S1 | 8.06 | -0.357 % | |
| S2 | 8.05 | -0.489 % | ||
| S3 | 8.03 | -0.702 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.19 | 1.24 % | |
| R2 | 8.12 | 0.371 % | ||
| R1 | 8.10 | 0.124 % | ||
| Current price | 8.09 | |||
| Support | S1 | 8.08 | -0.124% | |
| S2 | 7.95 | -1.79% | ||
| S3 | 7.94 | -1.85% |
ECF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jun 21, 2024 | $0.130 | 1.61% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.130 | 1.60% |
| 3 | Nov 16, 2023 | Nov 21, 2023 | Dec 28, 2023 | $0.130 | 1.59% |
| 4 | Aug 25, 2023 | Sep 14, 2023 | Sep 22, 2023 | $0.130 | 1.60% |
| 5 | May 18, 2023 | Jun 14, 2023 | Jun 23, 2023 | $0.130 | 1.56% |
FAQ
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