European Equity Fund Inc (The) Stock Forecast
European Equity Fund Inc (The) stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The European Equity Fund Inc (The) stock price gained 1.18% on the last trading day (Tuesday, 7th May 2024), rising from $8.92 to $9.03. It has now gained 5 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 1.69% from a day low at $8.88 to a day high of $9.03. The price has risen in 8 of the last 10 days and is up by 4.34% 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, 3 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately $39.87 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 $9.14 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect European Equity Fund Inc (The) stock with a 90% probability to be traded between $8.58 and $9.24 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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EEA Signals & Forecast
Mostly positive signals in the chart today. The European Equity Fund Inc (The) 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 $8.79 and $8.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.69%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). European Equity Fund Inc (The) 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. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, February 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, February 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, February 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for European Equity Fund Inc (The) stock
European Equity Fund Inc (The) finds support from accumulated volume at $8.87 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 $0.150 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 0.759%.
The European Equity Fund Inc (The) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $8.62 (-4.50%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (EEA) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect European Equity Fund Inc (The) to open at $8.98, and during the day (based on 14 day Average True Range), to move between $8.94 and $9.11, which gives a possible trading interval of +/-$0.0866 (+/-0.96%) up or down from last closing price. If European Equity Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.08 (0.60%) than the support at $8.87 (1.72%), 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 European Equity Fund Inc (The) stock A Buy?
European Equity Fund Inc (The) holds several positive signals and is considered to be a good choice at current levels. We expect the European Equity Fund Inc (The) stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.606 Strong Buy Candidate Upgraded
Predicted Opening Price for European Equity Fund Inc (The) of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$8.98 ( 0.521%) | $9.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EEA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.13 | 1.14 % | |
R2 | 9.07 | 0.506 % | ||
R1 | 9.04 | 0.113 % | ||
Current price: | 9.03 | |||
Support | S1 | 8.92 | -1.16 % | |
S2 | 8.89 | -1.55 % | ||
S3 | 8.83 | -2.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 9.08 | 0.603 % | ||
Current price | 9.03 | |||
Support | S1 | 8.87 | -1.72% | |
S2 | 8.65 | -4.16% | ||
S3 | 8.47 | -6.16% |
EEA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Dec 28, 2023 | Jan 26, 2024 | $0.0650 | 0.765% |
2 | May 05, 2023 | May 12, 2023 | May 31, 2023 | $0.0330 | 0.399% |
3 | Dec 20, 2022 | Dec 29, 2022 | Jan 30, 2019 | $0.145 | 1.76% |
4 | May 06, 2022 | May 13, 2022 | Jun 24, 2022 | $0.725 | 9.95% |
5 | Dec 20, 2021 | Dec 29, 2021 | Jan 28, 2022 | $1.46 | 15.22% |
FAQ
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