Enerflex Ltd. Stock Forecast
Green day on Friday for Enerflex Ltd.
(Updated on May 17, 2024)
The Enerflex Ltd. stock price gained 2.89% on the last trading day (Friday, 17th May 2024), rising from $6.91 to $7.11. During the last trading day the stock fluctuated 3.33% from a day low at $6.91 to a day high of $7.14. The price has risen in 6 of the last 10 days but is still down by -11.24% for this period. Volume fell on the last day by -33 thousand shares and in total, 170 thousand shares were bought and sold for approximately $1.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.69% during the next 3 months and, with a 90% probability hold a price between $6.32 and $7.94 at the end of this 3-month period.
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EFX.TO Signals & Forecast
There are mixed signals in the stock today. The Enerflex Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.86. On a fall, the stock will find some support from the short-term average at $7.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 7.73%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Enerflex Ltd. stock
Enerflex Ltd. finds support from accumulated volume at $6.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.230 between high and low, or 3.33%. For the last week the stock has had daily average volatility of 3.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EFX.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Enerflex Ltd. to open at $7.05, and during the day (based on 14 day Average True Range), to move between $6.76 and $7.46, which gives a possible trading interval of +/-$0.348 (+/-4.89%) up or down from last closing price. If Enerflex Ltd. takes out the full calculated possible swing range there will be an estimated 9.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.96 (2.11%) than the resistance at $8.00 (12.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enerflex Ltd. stock A Buy?
Enerflex Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.294 Sell Candidate Unchanged
Predicted Opening Price for Enerflex Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $7.05 ( 0.797%) | $7.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFX.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.28 | 2.44 % | |
| R2 | 7.20 | 1.20 % | ||
| R1 | 7.14 | 0.439 % | ||
| Current price: | 7.11 | |||
| Support | S1 | 6.97 | -2.03 % | |
| S2 | 6.91 | -2.80 % | ||
| S3 | 6.82 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.43 | 18.57 % | |
| R2 | 8.31 | 16.88 % | ||
| R1 | 8.00 | 12.52 % | ||
| Current price | 7.11 | |||
| Support | S1 | 6.96 | -2.11% | |
| S2 | 6.75 | -5.06% | ||
| S3 | 6.60 | -7.17% |
EFX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 22, 2024 | $0 | 0% |
| 2 | Mar 12, 2024 | Mar 12, 2024 | May 01, 2024 | $0.0250 | 0.308% |
| 3 | Nov 08, 2023 | Nov 20, 2023 | Jan 10, 2024 | $0.0250 | 0.411% |
| 4 | Aug 09, 2023 | Aug 23, 2023 | Oct 12, 2023 | $0.0250 | 0.426% |
| 5 | May 03, 2023 | May 17, 2023 | Jul 06, 2023 | $0.0250 | 0.282% |
FAQ
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