Element Fleet Management Corp. Stock Forecast
Element Fleet Management Corp. stock price down 0% on Friday
(Updated on Jun 14, 2024)
No changes to the price of Element Fleet Management Corp. stock on the last trading day (Friday, 14th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $17.96 to a day high of $17.96. The price has been going up and down for this period, and there has been a 2.16% gain for the last 2 weeks.
The stock lies in the middle of a 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 14.10% during the next 3 months and, with a 90% probability hold a price between $19.32 and $21.47 at the end of this 3-month period.
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ELEEF Signals & Forecast
The Element Fleet Management Corp. 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 $17.96 and $17.31. 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 Monday, June 03, 2024, and so far it has fallen -0.99%. 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 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 sell signal from a double top formation was found on Monday, June 03, 2024 and based on theory for this formation the price should fall by -7.47% to $16.62 within 7 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for Element Fleet Management Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.62 and $16.54. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Element Fleet Management Corp. finds support just below today's level at $16.62. If this is broken, then the next support from accumulated volume will be at $16.54 and $15.62.
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 0%
Our recommended stop-loss: $17.24 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ELEEF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Element Fleet Management Corp. to open at $17.96, and during the day (based on 14 day Average True Range), to move between $17.81 and $18.11, which gives a possible trading interval of +/-$0.146 (+/-0.82%) up or down from last closing price. If Element Fleet Management Corp. takes out the full calculated possible swing range there will be an estimated 1.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.07 (0.61%) than the support at $16.62 (7.46%), 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 Element Fleet Management Corp. stock A Buy?
Element Fleet Management Corp. 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Element Fleet Management Corp. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $17.96 ( 0%) | $17.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELEEF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.96 | - |
| R2 | 17.96 | - |
| R1 | 17.96 | - |
| Price | 17.96 | |
| S1 | 17.96 | - |
| S2 | 17.96 | - |
| S3 | 17.96 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.23 | 1.50% |
| R2 | 18.14 | 1.00% |
| R1 | 18.07 | 0.612% |
| Price | 17.96 | |
| S1 | 16.62 | -7.46% |
| S2 | 16.54 | -7.91% |
| S3 | 15.62 | -13.03% |
ELEEF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.0881 | 0.486% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0884 | 0.573% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0907 | 0.541% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.0741 | 0.526% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.0750 | 0.460% |
FAQ
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