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Eagle Bulk Shipping Inc. Stock Forecast NASDAQ:EGLE

$44.30 (1.03%)

Volume: 180k

Closed: Oct 15, 2021

Hollow Logo Score: -3.796

Eagle Bulk Shipping Inc. Stock Forecast

$44.30 (1.03%)

Volume: 180k

Closed: Oct 15, 2021

Score Hollow Logo -3.796
Which way will EGLE go? Request
Earnings Date: Nov 04, 2021
Key Stats
P/E Ratio 74.26
Beta 1.24
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 36 and the stock is currently not being overbought or oversold

Green day on Friday for Eagle Bulk Shipping Inc. stock after gaining 1.03%
(Updated on Oct 15, 2021)


Sell candidate since 2021-10-14 Gain 1.03%

The Eagle Bulk Shipping Inc. stock price gained 1.03% on the last trading day (Friday, 15th Oct 2021), rising from $43.85 to $44.30. During the day the stock fluctuated 3.42% from a day low at $44.13 to a day high of $45.64. The price has fallen in 8 of the last 10 days and is down by -14.79% for this period. Volume fell on the last day by -128 thousand shares and in total, 180 thousand shares were bought and sold for approximately $7.98 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $44.01 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.3% during the next 3 months and, with a 90% probability hold a price between $53.83 and $70.43 at the end of this 3-month period.

Signals & Forecast

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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eagle Bulk Shipping Inc. 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 $46.47 and $49.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 13, 2021, and so far it has fallen -17.43%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

Eagle Bulk Shipping Inc. finds support from accumulated volume at $43.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.51 between high and low, or 3.42%. For the last week, the stock has had a daily average volatility of 4.83%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Eagle Bulk Shipping Inc. stock A Buy?

The Eagle Bulk Shipping Inc. stock holds several negative signals and despite the positive trend, we believe Eagle Bulk Shipping Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.796

Predicted Opening Price for Eagle Bulk Shipping Inc. of Monday, October 18, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price October 18, 2021 Current price
$44.69 $44.30 (Undervalued)
Sell Candidate Unchanged

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Analyst Ratings

On Oct 06, 2021 "BTIG Research" gave "$55.00 - $65.00" rating for EGLE. The price target was changed from $49.75 to 6.6%.

Volatility and Risk
Daily Average Volatility: 4.83 %
Overall Risk: Very High High Medium Low Very Low
Volatility
4.83 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $48.20
Price: $44.30
Support: $43.71

EGLE Insider Trading Show all Trades

INSIDER POWER

0.227

Last 100 transactions
Buy: 1 401 296 | Sell: 6 182 319 (Shares)
Date Action Amount Person Type
Sep 03, 2021 Buy 8 937 Vogel Gary Common Stock
Sep 03, 2021 Buy 4 269 De Costanzo Frank Common Stock
Jul 02, 2021 Sell 174 184 Goldentree Asset Management Lp Common Stock, par value $0.01 per share ("Common Stock")
Jul 02, 2021 Sell 1 084 467 Goldentree Asset Management Lp Common Stock
Jul 02, 2021 Sell 219 761 Goldentree Asset Management Lp Common Stock
Show all Insider Trades
INSIDER POWER

0.227

Last 100 transactions
Buy: 1 401 296 | Sell: 6 182 319 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 46.20 4.29 %
45.62 2.99 %
45.27 2.18 %
Current price: 44.30
Support 44.11 -0.42 %
43.76 -1.23 %
43.18 -2.53 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 50.55 14.11 %
50.54 14.09 %
48.20 8.80 %
Current price 44.30
Support 43.71 -1.33%
41.60 -6.09%
37.90 -14.45%

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