Ecit As Stock Forecast
Weaker technical forecast for Ecit As as stock downgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Ecit As stock price fell by -0.267% on the last day (Wednesday, 26th Jun 2024) from kr7.50 to kr7.48. During the last trading day the stock fluctuated 1.08% from a day low at kr7.40 to a day high of kr7.48. The price has risen in 6 of the last 10 days and is up by 2.75% over the past 2 weeks. Volume has increased on the last day by 106 thousand 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, 162 thousand shares were bought and sold for approximately kr1.21 million.
The stock lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at kr7.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.02% during the next 3 months and, with a 90% probability hold a price between kr7.70 and kr7.97 at the end of this 3-month period.
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ECIT.OL Signals & Forecast
The Ecit As 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 kr7.39 and kr7.24. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 25, 2024, and so far it has fallen -0.267%. Further fall is indicated until a new bottom pivot has been found. Ecit As gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Ecit As stock
Ecit As finds support from accumulated volume at kr7.46 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 kr0.0800 (1.08%) between high and low. For the last week, the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: kr7.28 (-2.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (ECIT.OL) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Ecit As to open at kr7.45, and during the day (based on 14 day Average True Range), to move between kr7.23 and kr7.73, which gives a possible trading interval of +/-kr0.250 (+/-3.34%) up or down from last closing price. If Ecit As takes out the full calculated possible swing range there will be an estimated 6.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr7.50 (0.27%) than the support at kr7.46 (0.27%), 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 Ecit As stock A Buy?
Ecit As 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.925 Hold/Accumulate Downgraded
Predicted Opening Price for Ecit As of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| kr7.45 ( 0.357%) | kr7.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECIT.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.53 | 0.713% |
| R2 | 7.50 | 0.304% |
| R1 | 7.48 | 0.0520% |
| Price | 7.48 | |
| S1 | 7.42 | -0.765% |
| S2 | 7.40 | -1.02% |
| S3 | 7.37 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 7.50 | 0.267% |
| Price | 7.48 | |
| S1 | 7.46 | -0.267% |
| S2 | 7.10 | -5.08% |
| S3 | 7.06 | -5.61% |
ECIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 08, 2024 | kr0.0600 | 0.86% |
| 2 | Feb 22, 2024 | Feb 22, 2024 | Feb 22, 2024 | kr0.0600 | 0.85% |
| 3 | Mar 29, 2023 | Mar 29, 2023 | Apr 13, 2023 | kr0.0400 | 0.541% |
| 4 | Apr 11, 2022 | Apr 11, 2022 | Apr 22, 2022 | kr0.0400 | 0.578% |
FAQ
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