Emeco Holdings Limited Stock Forecast

Red day on Friday for Emeco Holdings Limited
(Updated on May 17, 2024)

EHL.AX Signals & Forecast

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. The Emeco Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.754 and $0.735. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -6.45%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Emeco Holdings Limited stock

Emeco Holdings Limited finds support from accumulated volume at $0.710 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0200 between high and low, or 2.82%. For the last week the stock has had daily average volatility of 2.83%.

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

Trading Expectations (EHL.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Emeco Holdings Limited to open at $0.722, and during the day (based on 14 day Average True Range), to move between $0.706 and $0.744, which gives a possible trading interval of +/-$0.0189 (+/-2.60%) up or down from last closing price. If Emeco Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.730 (0.69%) than the support at $0.710 (2.07%), 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 Emeco Holdings Limited stock A Buy?

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

Current score: -2.719 Sell Candidate Unchanged

Predicted Opening Price for Emeco Holdings Limited of Monday, May 20, 2024

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