El Al Israel Airlines Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for El Al Israel Airlines Ltd as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
No changes to the price of El Al Israel Airlines Ltd stock on the last trading day (Tuesday, 30th Apr 2024). During the last trading day the stock fluctuated 0% from a day low at ₪519.90 to a day high of ₪519.90. The price has risen in 4 of the last 10 days and is up by 14.69% over the past 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.82% during the next 3 months and, with a 90% probability hold a price between ₪486.42 and ₪634.19 at the end of this 3-month period.
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ELAL.TA Signals & Forecast
The El Al Israel Airlines Ltd 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 ₪500.50 and ₪487.02. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, April 09, 2024 with a target of ₪447.70. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for El Al Israel Airlines Ltd stock
El Al Israel Airlines Ltd finds support from accumulated volume at ₪499.90 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₪0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.33%
Our recommended stop-loss: ₪502.43 (-3.36%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ELAL.TA) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect El Al Israel Airlines Ltd to open at ₪519.90, and during the day (based on 14 day Average True Range), to move between ₪502.98 and ₪536.82, which gives a possible trading interval of +/-₪16.92 (+/-3.25%) up or down from last closing price. If El Al Israel Airlines Ltd takes out the full calculated possible swing range there will be an estimated 6.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪522.20 (0.44%) than the support at ₪499.90 (3.85%), 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 El Al Israel Airlines Ltd stock A Buy?
El Al Israel Airlines Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Downgraded
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 El Al Israel Airlines Ltd of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| ₪519.90 ( 0%) | ₪519.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELAL.TA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 519.90 | . | |
| R2 | 519.90 | . | ||
| R1 | 519.90 | . | ||
| Current price: | 519.90 | |||
| Support | S1 | 519.90 | . | |
| S2 | 519.90 | . | ||
| S3 | 519.90 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 540.00 | 3.87 % | |
| R2 | 532.00 | 2.33 % | ||
| R1 | 522.20 | 0.442 % | ||
| Current price | 519.90 | |||
| Support | S1 | 499.90 | -3.85% | |
| S2 | 462.50 | -11.04% | ||
| S3 | 434.90 | -16.35% |
ELAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2017 | May 09, 2017 | May 09, 2017 | ₪58.40 | 2.94% |
| 2 | Aug 25, 2016 | Aug 25, 2016 | Aug 25, 2016 | ₪112.00 | 5.74% |
| 3 | Mar 31, 2016 | Mar 31, 2016 | Mar 31, 2016 | ₪93.32 | 5.26% |
| 4 | Aug 13, 2015 | Aug 13, 2015 | Aug 13, 2015 | ₪152.00 | 17.02% |
| 5 | Jan 08, 2008 | Jan 08, 2008 | Jan 08, 2008 | ₪18.67 | 1.27% |
FAQ
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