Empresa Distribuidora Y Comercializadora Stock Forecast

Empresa Distribuidora Y Comercializadora stock price down 0.90% on Wednesday
(Updated on Apr 24, 2024)

EDN Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.42%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Empresa Distribuidora Y Comercializadora 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 $16.51 and $17.22. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Empresa Distribuidora Y Comercializadora 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 Empresa Distribuidora Y Comercializadora stock

Empresa Distribuidora Y Comercializadora finds support from accumulated volume at $15.68 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 $0.680 between high and low, or 4.19%. For the last week, the stock has had daily average volatility of 6.35%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EDN) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Empresa Distribuidora Y Comercializadora Norte SA (Edenor) to open at $16.53, and during the day (based on 14 day Average True Range), to move between $15.37 and $17.59, which gives a possible trading interval of +/-$1.11 (+/-6.72%) up or down from last closing price. If Empresa Distribuidora Y Comercializadora Norte SA (Edenor) takes out the full calculated possible swing range there will be an estimated 13.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.85 (2.25%) than the support at $15.68 (4.85%), 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 Empresa Distribuidora Y Comercializadora Norte SA (Edenor) stock A Buy?

Empresa Distribuidora Y Comercializadora holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.178 Sell Candidate Unchanged

Predicted Opening Price for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.