Employers Holdings Inc Stock Forecast
Employers Holdings Inc stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Employers Holdings Inc stock price fell by -3.10% on the last day (Thursday, 25th Apr 2024) from $44.90 to $43.51. During the last trading day the stock fluctuated 3.77% from a day low at $43.13 to a day high of $44.76. The price has been going up and down for this period, and there has been a 1.8% gain for the last 2 weeks. Volume has increased on the last day by 176 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, 269 thousand shares were bought and sold for approximately $11.72 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.67 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 4.22% during the next 3 months and, with a 90% probability hold a price between $44.47 and $49.68 at the end of this 3-month period.
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EIG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.42%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Employers Holdings 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 $43.90 and $44.09. A break-up above any of these levels will issue buy signals. 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 Employers Holdings Inc stock
Employers Holdings Inc finds support from accumulated volume at $42.27 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 $1.63 (3.77%) between high and low. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EIG) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Employers Holdings Inc to open at $43.80, and during the day (based on 14 day Average True Range), to move between $42.74 and $44.28, which gives a possible trading interval of +/-$0.770 (+/-1.77%) up or down from last closing price. If Employers Holdings Inc takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.10 (1.36%) than the support at $42.27 (2.85%), 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 Employers Holdings Inc stock A Buy?
The Employers Holdings Inc stock holds several negative signals and despite the positive trend, we believe Employers Holdings Inc will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -1.337 Sell Candidate Downgraded
Predicted Opening Price for Employers Holdings Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $43.80 ( 0.663%) | $43.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.42 | 4.40 % | |
| R2 | 44.80 | 2.97 % | ||
| R1 | 44.42 | 2.09 % | ||
| Current price: | 43.51 | |||
| Support | S1 | 43.18 | -0.764 % | |
| S2 | 42.79 | -1.65 % | ||
| S3 | 42.17 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.02 | 3.47 % | |
| R2 | 44.90 | 3.19 % | ||
| R1 | 44.10 | 1.36 % | ||
| Current price | 43.51 | |||
| Support | S1 | 42.27 | -2.85% | |
| S2 | 40.87 | -6.07% | ||
| S3 | 39.81 | -8.50% |
EIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 27, 2024 | Mar 13, 2024 | $0.280 | 0.635% |
| 2 | Oct 25, 2023 | Nov 07, 2023 | Nov 22, 2023 | $0.280 | 0.737% |
| 3 | Jul 26, 2023 | Aug 08, 2023 | Aug 23, 2023 | $0.280 | 0.726% |
| 4 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.280 | 0.759% |
| 5 | Feb 16, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.260 | 0.632% |
FAQ
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