E-L Financial Corporation Limited Stock Forecast
E-L Financial Corporation Limited stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)
The E-L Financial Corporation Limited stock price fell by -2.12% on the last day (Friday, 14th Jun 2024) from $1,124.99 to $1,101.15. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 0.350% from a day low at $1,101.15 to a day high of $1,105.00. The price has fallen in 8 of the last 10 days and is down by -4.25% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -458 shares and in total, 302 shares were bought and sold for approximately $332.55 thousand.
Given the current short-term trend, the stock is expected to rise 6.88% during the next 3 months and, with a 90% probability hold a price between $1,176.89 and $1,241.78 at the end of this 3-month period.
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ELF.TO Signals & Forecast
There are few to no technical positive signals at the moment. The E-L Financial Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1,126.58 and $1,116.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -4.25%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for E-L Financial Corporation Limited stock
E-L Financial Corporation Limited finds support from accumulated volume at $1,100.00 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 $3.85 between high and low, or 0.350%. For the last week the stock has had daily average volatility of 0.244%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELF.TO) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect E-L Financial Corporation Limited to open at $1,102.43, and during the day (based on 14 day Average True Range), to move between $1,092.15 and $1,110.15, which gives a possible trading interval of +/-$9.00 (+/-0.82%) up or down from last closing price. If E-L Financial Corporation Limited 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 support from accumulated volume at $1,100.00 (0.10%) than the resistance at $1,120.00 (1.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is E-L Financial Corporation Limited stock A Buy?
The E-L Financial Corporation Limited stock holds several negative signals and despite the positive trend, we believe E-L Financial Corporation Limited 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: -2.692 Sell Candidate Downgraded
Predicted Opening Price for E-L Financial Corporation Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $1,102.43 ( 0.117%) | $1,101.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELF.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,106.28 | 0.466% |
| R2 | 1,104.81 | 0.333% |
| R1 | 1,103.90 | 0.250% |
| Price | 1,101.15 | |
| S1 | 1,100.96 | -0.0170% |
| S2 | 1,100.05 | -0.0995% |
| S3 | 1,098.58 | -0.233% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,136.40 | 3.20% |
| R2 | 1,131.61 | 2.77% |
| R1 | 1,120.00 | 1.71% |
| Price | 1,101.15 | |
| S1 | 1,100.00 | -0.104% |
| S2 | 1,099.99 | -0.105% |
| S3 | 1,088.50 | -1.15% |
ELF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 17, 2024 | $3.75 | 0.341% |
| 2 | May 13, 2024 | May 13, 2024 | Jun 14, 2024 | $60.00 | 5.45% |
| 3 | Mar 27, 2024 | Mar 27, 2024 | Apr 17, 2024 | $3.75 | 0.347% |
| 4 | Nov 07, 2023 | Dec 28, 2023 | Jan 17, 2024 | $3.75 | 0.364% |
| 5 | Aug 09, 2023 | Sep 28, 2023 | Oct 17, 2023 | $3.75 | 0.431% |
FAQ
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