Elme Communities Stock Forecast
Elme Communities stock price up 0.129% on Wednesday
(Updated on Jun 26, 2024)
The Elme Communities stock price gained 0.129% on the last trading day (Wednesday, 26th Jun 2024), rising from $15.46 to $15.48. It has now gained 4 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 1.37% from a day low at $15.33 to a day high of $15.54. The price has risen in 6 of the last 10 days and is up by 1.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 152 thousand more shares were traded than the day before. In total, 558 thousand shares were bought and sold for approximately $8.64 million.
The stock lies in the middle of a wide and weak 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 9.53% during the next 3 months and, with a 90% probability hold a price between $16.19 and $18.48 at the end of this 3-month period.
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ELME Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Elme Communities stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.58. On a fall, the stock will find some support from the short-term average at $15.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -5.03%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Elme Communities stock
Elme Communities finds support from accumulated volume at $15.31 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.210 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELME) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Elme Communities to open at $15.45, and during the day (based on 14 day Average True Range), to move between $15.16 and $15.80, which gives a possible trading interval of +/-$0.317 (+/-2.05%) up or down from last closing price. If Elme Communities takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.53 (0.32%) than the support at $15.31 (1.10%), 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 Elme Communities stock A Buy?
Elme Communities holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.886 Sell Candidate Unchanged
Predicted Opening Price for Elme Communities of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $15.45 ( 0.215%) | $15.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELME
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.66 | 1.14% |
| R2 | 15.58 | 0.623% |
| R1 | 15.53 | 0.303% |
| Price | 15.48 | |
| S1 | 15.37 | -0.734% |
| S2 | 15.32 | -1.05% |
| S3 | 15.24 | -1.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.93 | 2.91% |
| R2 | 15.75 | 1.74% |
| R1 | 15.53 | 0.323% |
| Price | 15.48 | |
| S1 | 15.31 | -1.10% |
| S2 | 15.04 | -2.84% |
| S3 | 14.86 | -4.01% |
ELME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | Jun 20, 2024 | Jul 03, 2024 | $0.180 | 1.16% |
| 2 | Feb 15, 2024 | Mar 19, 2024 | Apr 03, 2024 | $0.180 | 1.33% |
| 3 | Oct 26, 2023 | Dec 20, 2023 | Jan 04, 2024 | $0.180 | 1.27% |
| 4 | Jul 31, 2023 | Sep 19, 2023 | Oct 04, 2023 | $0.180 | 1.34% |
| 5 | Apr 27, 2023 | Jun 21, 2023 | Jul 06, 2023 | $0.180 | 1.09% |
FAQ
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