Edison International Stock Forecast
Edison International stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The Edison International stock price fell by -0.0423% on the last day (Wednesday, 24th Apr 2024) from $70.85 to $70.82. During the last trading day the stock fluctuated 1.89% from a day low at $69.83 to a day high of $71.15. The price has been going up and down for this period, and there has been a 2.76% gain for the last 2 weeks. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately $252.99 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $71.65 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.36% during the next 3 months and, with a 90% probability hold a price between $71.50 and $76.21 at the end of this 3-month period.
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EIX Signals & Forecast
The Edison International stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $69.32 and $69.42. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.0423%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the long-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.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the long-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.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should fall by -11.31% to $62.81 within 10 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Edison International stock
Edison International finds support from accumulated volume at $67.42 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 $1.32 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: $68.75 (-2.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (EIX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Edison International to open at $70.60, and during the day (based on 14 day Average True Range), to move between $69.52 and $72.12, which gives a possible trading interval of +/-$1.30 (+/-1.84%) up or down from last closing price. If Edison International takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $70.85 (0.04%) than the support at $67.42 (4.80%), 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.
Earnings coming up
Edison International will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.29. We will update the financials statements for Edison International, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.34% in the first trading day after earnings release.
Is Edison International stock A Buy?
Edison International 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. 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 Hold/Accumulate candidate.
Current score: -0.342 Hold/Accumulate Downgraded
Predicted Opening Price for Edison International of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $70.60 ( 0.311%) | $70.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.92 | 1.55 % | |
| R2 | 71.42 | 0.84 % | ||
| R1 | 71.10 | 0.401 % | ||
| Current price: | 70.82 | |||
| Support | S1 | 70.10 | -1.02 % | |
| S2 | 69.78 | -1.46 % | ||
| S3 | 69.28 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 70.89 | 0.0988 % | ||
| R1 | 70.85 | 0.0424 % | ||
| Current price | 70.82 | |||
| Support | S1 | 67.42 | -4.80% | |
| S2 | 67.04 | -5.34% | ||
| S3 | 66.55 | -6.03% |
EIX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.780 | 1.10% |
| 2 | Dec 14, 2023 | Dec 29, 2023 | Jan 31, 2024 | $0.780 | 1.16% |
| 3 | Dec 14, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.780 | 1.16% |
| 4 | Aug 24, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.740 | 1.17% |
| 5 | Jun 21, 2023 | Jul 03, 2023 | Jul 31, 2023 | $0.738 | 1.03% |
FAQ
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