Enhabit, Inc. Stock Forecast
Green day on Thursday for Enhabit, Inc. stock after gaining 1.50%
(Updated on Jun 20, 2024)
The Enhabit, Inc. stock price gained 1.50% on the last trading day (Thursday, 20th Jun 2024), rising from $8.68 to $8.81. During the last trading day the stock fluctuated 3.15% from a day low at $8.57 to a day high of $8.84. The price has been going up and down for this period, and there has been a -4.34% loss for the last 2 weeks. Volume fell on the last day by -243 thousand shares and in total, 248 thousand shares were bought and sold for approximately $2.18 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $8.67 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Enhabit, Inc. stock with a 90% probability to be traded between $8.53 and $9.45 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.
EHAB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.50%. Further rise is indicated until a new top pivot has been found. 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 Enhabit, 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 $9.02 and $9.09. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Enhabit, Inc. stock
Enhabit, Inc. finds support from accumulated volume at $8.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.270 between high and low, or 3.15%. For the last week the stock has had daily average volatility of 3.70%.
Our recommended stop-loss: $8.35 (-5.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (EHAB) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Enhabit, Inc. to open at $8.74, and during the day (based on 14 day Average True Range), to move between $8.46 and $9.16, which gives a possible trading interval of +/-$0.347 (+/-3.94%) up or down from last closing price. If Enhabit, Inc. takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.80 (0.11%) than the resistance at $8.84 (0.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enhabit, Inc. stock A Buy?
Enhabit, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Enhabit, Inc. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $8.74 ( 0.795%) | $8.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EHAB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.01 | 2.27% |
| R2 | 8.91 | 1.10% |
| R1 | 8.84 | 0.376% |
| Price | 8.81 | |
| S1 | 8.64 | -1.97% |
| S2 | 8.57 | -2.69% |
| S3 | 8.47 | -3.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.19 | 4.31% |
| R2 | 9.18 | 4.20% |
| R1 | 8.84 | 0.341% |
| Price | 8.81 | |
| S1 | 8.80 | -0.114% |
| S2 | 8.68 | -1.48% |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Enhabit, Inc. Stock.
