Enero Group Limited Stock Forecast
Weaker technical forecast for Enero Group Limited as stock downgraded to Sell Candidate.
(Updated on May 16, 2024)
No changes to the price of Enero Group Limited stock on the last trading day (Thursday, 16th May 2024). During the last trading day the stock fluctuated 0.299% from a day low at $1.67 to a day high of $1.68. The price has fallen in 4 of the last 10 days but is still up by 3.73% over the past 2 weeks.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.84% during the next 3 months and, with a 90% probability hold a price between $1.69 and $2.03 at the end of this 3-month period.
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EGG.AX Signals & Forecast
There are mixed signals in the stock today. The Enero Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.69 and $1.70. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 6.37%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Enero Group Limited stock
Enero Group Limited finds support from accumulated volume at $1.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0050 (0.299%) between high and low. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGG.AX) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Enero Group Limited to open at $1.67, and during the day (based on 14 day Average True Range), to move between $1.61 and $1.73, which gives a possible trading interval of +/-$0.0613 (+/-3.67%) up or down from last closing price. If Enero Group Limited takes out the full calculated possible swing range there will be an estimated 7.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.68 (0.60%) than the support at $1.61 (3.59%), 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 Enero Group Limited stock A Buy?
Enero Group Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.862 Sell Candidate Downgraded
Predicted Opening Price for Enero Group Limited of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
$1.67 ( 0.0998%) | $1.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGG.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.68 | 0.399 % | |
R2 | 1.67 | 0.285 % | ||
R1 | 1.67 | 0.214 % | ||
Current price: | 1.67 | |||
Support | S1 | 1.67 | -0.0146 % | |
S2 | 1.67 | -0.0852 % | ||
S3 | 1.67 | -0.200 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.79 | 7.19 % | |
R2 | 1.71 | 2.10 % | ||
R1 | 1.68 | 0.599 % | ||
Current price | 1.67 | |||
Support | S1 | 1.61 | -3.59% | |
S2 | 1.58 | -5.39% | ||
S3 | 1.52 | -8.98% |
EGG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Apr 12, 2024 | $0.0300 | 1.68% |
2 | Feb 23, 2023 | Feb 23, 2023 | Feb 23, 2023 | $0.0650 | 3.19% |
3 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | $0.0650 | 2.16% |
4 | Feb 24, 2022 | Feb 24, 2022 | Feb 24, 2022 | $0.0600 | 1.73% |
5 | Sep 22, 2021 | Sep 22, 2021 | Sep 22, 2021 | $0.0440 | 1.48% |
FAQ
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