Everest Group, Ltd. 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
Everest Group, Ltd. stock price down 0.794% on Monday
(Updated on May 20, 2024)
The Everest Group, Ltd. stock price fell by -0.794% on the last day (Monday, 20th May 2024) from $392.92 to $389.80. During the last trading day the stock fluctuated 1.27% from a day low at $389.10 to a day high of $394.04. The price has fallen in 6 of the last 10 days but is still up by 2.85% over the past 2 weeks. Volume has increased on the last day by 39 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 222 thousand shares were bought and sold for approximately $86.51 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Everest Group, Ltd. stock with a 90% probability to be traded between $359.80 and $401.32 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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EG Signals & Forecast
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 $384.14 and $374.03. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -0.794%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more 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 $4.94 (1.27%) between high and low. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: $379.71 (-2.59%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (EG) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Everest Group, Ltd. to open at $390.98, and during the day (based on 14 day Average True Range), to move between $382.77 and $396.83, which gives a possible trading interval of +/-$7.03 (+/-1.80%) up or down from last closing price. If Everest Group, Ltd. takes out the full calculated possible swing range there will be an estimated 3.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $391.87 (0.53%) than the support at $369.90 (5.11%), 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: 1.263 Buy Candidate Unchanged
Predicted Opening Price for Everest Group, Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $390.98 ( 0.302%) | $389.80 |
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 | 395.92 | 1.57 % | |
| R2 | 394.03 | 1.09 % | ||
| R1 | 392.87 | 0.787 % | ||
| Current price: | 389.80 | |||
| Support | S1 | 389.09 | -0.182 % | |
| S2 | 387.92 | -0.482 % | ||
| S3 | 386.03 | -0.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 392.87 | 0.788 % | |
| R2 | 391.90 | 0.539 % | ||
| R1 | 391.87 | 0.531 % | ||
| Current price | 389.80 | |||
| Support | S1 | 369.90 | -5.11% | |
| S2 | 367.50 | -5.72% | ||
| S3 | 366.41 | -6.00% |
EG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 29, 2024 | Jun 14, 2024 | $2.00 | 0.513% |
| 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
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