Element Fleet Management Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Element Fleet Management Corporation stock price after Friday trading.
(Updated on May 03, 2024)
The Element Fleet Management Corporation stock price gained 1.47% on the last trading day (Friday, 3rd May 2024), rising from $22.42 to $22.75. During the last trading day the stock fluctuated 1.89% from a day low at $22.45 to a day high of $22.88. The price has risen in 8 of the last 10 days and is up by 5.81% 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, 188 thousand more shares were traded than the day before. In total, 591 thousand shares were bought and sold for approximately $13.43 million.
Given the current short-term trend, the stock is expected to fall -4.60% during the next 3 months and, with a 90% probability hold a price between $20.13 and $21.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EFN.TO Signals & Forecast
Mostly positive signals in the chart today. The Element Fleet Management Corporation 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 $21.92 and $21.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.26%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Element Fleet Management Corporation stock
Element Fleet Management Corporation finds support from accumulated volume at $22.65 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 $0.425 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 2.48%.
The Element Fleet Management Corporation 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: $21.98 (-3.38%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (EFN.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Element Fleet Management Corporation to open at $22.69, and during the day (based on 14 day Average True Range), to move between $22.34 and $23.16, which gives a possible trading interval of +/-$0.411 (+/-1.80%) up or down from last closing price. If Element Fleet Management Corporation takes out the full calculated possible swing range there will be an estimated 3.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.65 (0.44%) than the resistance at $22.88 (0.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Element Fleet Management Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.010 Buy Candidate Upgraded
Predicted Opening Price for Element Fleet Management Corporation of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$22.69 ( 0.256%) | $22.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFN.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.12 | 1.61 % | |
R2 | 22.95 | 0.90 % | ||
R1 | 22.85 | 0.457 % | ||
Current price: | 22.75 | |||
Support | S1 | 22.53 | -0.97 % | |
S2 | 22.43 | -1.41 % | ||
S3 | 22.27 | -2.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.21 | 2.02 % | |
R2 | 23.07 | 1.41 % | ||
R1 | 22.88 | 0.571 % | ||
Current price | 22.75 | |||
Support | S1 | 22.65 | -0.440% | |
S2 | 22.12 | -2.77% | ||
S3 | 21.97 | -3.43% |
EFN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.120 | 0.563% |
2 | Nov 06, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.120 | 0.532% |
3 | Aug 08, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.100 | 0.518% |
4 | May 10, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.100 | 0.467% |
5 | Mar 06, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.100 | 0.568% |
FAQ
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