Eclipse Resources Corp Stock Forecast
Eclipse Resources Corp stock price took a fall of -6.25% on Friday
(Updated on Apr 26, 2024)
The Eclipse Resources Corp stock price fell by -6.25% on the last day (Friday, 26th Apr 2024) from £0.320 to £0.300. During the last trading day the stock fluctuated 4.80% from a day low at £0.300 to a day high of £0.314. The price has fallen in 5 of the last 10 days and is down by -4.76% for this period. Volume has increased on the last day by 769 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, 6 million shares were bought and sold for approximately £1.87 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £0.270 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.00% during the next 3 months and, with a 90% probability hold a price between £0.300 and £0.501 at the end of this 3-month period.
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ECR.L Signals & Forecast
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. The Eclipse Resources Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.304 and £0.313. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -30.23%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Eclipse Resources Corp stock
Eclipse Resources Corp finds support from accumulated volume at £0.290 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 £0.0144 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 7.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ECR.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Eclipse Resources Corp to open at £0.305, and during the day (based on 14 day Average True Range), to move between £0.275 and £0.325, which gives a possible trading interval of +/-£0.0250 (+/-8.34%) up or down from last closing price. If Eclipse Resources Corp takes out the full calculated possible swing range there will be an estimated 16.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.310 (3.33%) than the support at £0.290 (3.33%), 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 Eclipse Resources Corp stock A Buy?
The Eclipse Resources Corp stock holds several negative signals and despite the positive trend, we believe Eclipse Resources Corp will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.471 Sell Candidate Downgraded
Predicted Opening Price for Eclipse Resources Corp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £0.305 ( 1.60%) | £0.300 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.319 | 6.40 % | |
| R2 | 0.314 | 4.57 % | ||
| R1 | 0.310 | 3.43 % | ||
| Current price: | 0.300 | |||
| Support | S1 | 0.299 | -0.234 % | |
| S2 | 0.296 | -1.37 % | ||
| S3 | 0.290 | -3.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.335 | 11.67 % | |
| R2 | 0.320 | 6.67 % | ||
| R1 | 0.310 | 3.33 % | ||
| Current price | 0.300 | |||
| Support | S1 | 0.290 | -3.33% | |
| S2 | 0.280 | -6.67% | ||
| S3 | 0.275 | -8.33% |
FAQ
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