E-L Financial Corporation Limited 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
E-L Financial Corporation Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
No changes to the price of E-L Financial Corporation Limited stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $1,096.00 to a day high of $1,096.00. The price has fallen in 6 of the last 10 days and is down by -3.06% for this period.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1,097.60. A reaction back to this level may hold a second chance to get out before further falls.
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ELF.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1,107.33 and $1,118.01. A break-up above any of these levels will issue buy signals. 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 Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -2.07% to $1,073.35 within 11 trading days since signal was issued (Thursday, May 09, 2024).
Support, Risk & Stop-loss for E-L Financial Corporation Limited stock
E-L Financial Corporation Limited finds support from accumulated volume at $1,088.50 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 0.333%
Our recommended stop-loss: $1,025.42 (-6.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (ELF.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect E-L Financial Corporation Limited to open at $1,096.00, and during the day (based on 14 day Average True Range), to move between $1,087.03 and $1,104.97, which gives a possible trading interval of +/-$8.97 (+/-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 1.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1,100.00 (0.36%) than the support at $1,088.50 (0.68%), 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 E-L Financial Corporation Limited stock A Buy?
E-L Financial Corporation Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 E-L Financial Corporation Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1,096.00 ( 0%) | $1,096.00 |
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 | 1,096.00 | - |
| R2 | 1,096.00 | - |
| R1 | 1,096.00 | - |
| Price | 1,096.00 | |
| S1 | 1,096.00 | - |
| S2 | 1,096.00 | - |
| S3 | 1,096.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,121.00 | 2.28% |
| R2 | 1,120.00 | 2.19% |
| R1 | 1,100.00 | 0.365% |
| Price | 1,096.00 | |
| S1 | 1,088.50 | -0.684% |
| S2 | 1,079.01 | -1.55% |
| S3 | 1,073.90 | -2.02% |
ELF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 17, 2024 | $3.75 | 0.337% |
| 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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