Everest Group, Ltd. Stock Forecast
Green day on Tuesday for Everest Group, Ltd. stock after gaining 1.12%
(Updated on May 21, 2024)
The Everest Group, Ltd. stock price gained 1.12% on the last trading day (Tuesday, 21st May 2024), rising from $389.80 to $394.16. During the last trading day the stock fluctuated 1.04% from a day low at $390.49 to a day high of $394.57. The price has been going up and down for this period, and there has been a 4.1% gain for the last 2 weeks. Volume fell on the last day by -38 thousand shares and in total, 184 thousand shares were bought and sold for approximately $72.68 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $399.40 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Everest Group, Ltd. stock with a 90% probability to be traded between $360.16 and $401.75 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EG Signals & Forecast
Mostly positive signals in the chart today. The Everest Group, Ltd. 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 $385.74 and $374.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.37%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Everest Group, Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $369.90 and $367.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Everest Group, Ltd. finds support just below today's level at $369.90. If this is broken, then the next support from accumulated volume will be at $367.50 and $366.41.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.08 (1.04%) between high and low. For the last week, the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: $382.18 (-3.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (EG) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Everest Group, Ltd. to open at $393.07, and during the day (based on 14 day Average True Range), to move between $387.30 and $401.02, which gives a possible trading interval of +/-$6.86 (+/-1.74%) up or down from last closing price. If Everest Group, Ltd. takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $395.79 (0.41%) than the support at $369.90 (6.15%), 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 Everest Group, Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Everest Group, Ltd. stock to perform well in the short-term period.
Current score: 3.570 Buy Candidate Unchanged
Predicted Opening Price for Everest Group, Ltd. of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
$393.07 ( 0.276%) | $394.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 397.15 | 0.759 % | |
R2 | 395.59 | 0.364 % | ||
R1 | 394.63 | 0.120 % | ||
Current price: | 394.16 | |||
Support | S1 | 391.51 | -0.671 % | |
S2 | 390.55 | -0.92 % | ||
S3 | 388.99 | -1.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 398.04 | 0.98 % | |
R2 | 397.50 | 0.85 % | ||
R1 | 395.79 | 0.414 % | ||
Current price | 394.16 | |||
Support | S1 | 369.90 | -6.15% | |
S2 | 367.50 | -6.76% | ||
S3 | 366.41 | -7.04% |
EG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 15, 2024 | May 29, 2024 | Jun 14, 2024 | $2.00 | 0.507% |
2 | Feb 29, 2024 | Mar 18, 2024 | Mar 27, 2024 | $1.75 | 0.442% |
3 | Nov 09, 2023 | Nov 28, 2023 | Dec 15, 2023 | $1.75 | 0.491% |
4 | Sep 08, 2023 | Sep 18, 2023 | Sep 29, 2023 | $1.75 | 0.471% |
5 | May 18, 2023 | May 30, 2023 | Jun 16, 2023 | $1.65 | 0.468% |
FAQ
Click here for our free guide on how to buy Everest Group, Ltd. Stock.