Edison International Stock Forecast
Green day on Friday for Edison International stock after gaining 0.514%
(Updated on May 03, 2024)
The Edison International stock price gained 0.514% on the last trading day (Friday, 3rd May 2024), rising from $71.97 to $72.34. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.27% from a day low at $71.77 to a day high of $72.68. The price has risen in 7 of the last 10 days and is up by 3.45% over the past 2 weeks. Volume fell on the last day by -563 thousand shares and in total, 1 million shares were bought and sold for approximately $101.77 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 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 $72.51 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.35% during the next 3 months and, with a 90% probability hold a price between $73.66 and $78.56 at the end of this 3-month period.
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EIX Signals & Forecast
Mostly positive signals in the chart today. The Edison International stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $71.32 and $69.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.28%. 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). 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. 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.
Support, Risk & Stop-loss for Edison International stock
Edison International finds support from accumulated volume at $70.82 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 $0.91 (1.27%) between high and low. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: $69.55 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (EIX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Edison International to open at $72.26, and during the day (based on 14 day Average True Range), to move between $70.97 and $73.71, which gives a possible trading interval of +/-$1.37 (+/-1.89%) up or down from last closing price. If Edison International takes out the full calculated possible swing range there will be an estimated 3.78% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $70.82, some $1.52 (2.10%) from the current price of $72.34, our system finds the risk reward attractive.
Is Edison International stock A Buy?
Edison International holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.481 Strong Buy Candidate Unchanged
Predicted Opening Price for Edison International of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $72.26 ( 0.106%) | $72.34 |
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 | 73.17 | 1.15 % | |
| R2 | 72.83 | 0.671 % | ||
| R1 | 72.61 | 0.375 % | ||
| Current price: | 72.34 | |||
| Support | S1 | 71.92 | -0.587 % | |
| S2 | 71.70 | -0.88 % | ||
| S3 | 71.35 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 72.34 | |||
| Support | S1 | 70.82 | -2.10% | |
| S2 | 67.42 | -6.80% | ||
| S3 | 66.55 | -8.00% |
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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