Elme Communities 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
Elme Communities stock price ended at $15.93 on Friday, after gaining 1.59%.
(Updated on Jun 28, 2024)
The Elme Communities stock price gained 1.59% on the last trading day (Friday, 28th Jun 2024), rising from $15.68 to $15.93. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.56% from a day low at $15.69 to a day high of $15.94. The price has risen in 7 of the last 10 days and is up by 3.64% 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, 65 thousand more shares were traded than the day before. In total, 302 thousand shares were bought and sold for approximately $4.80 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 8.56% during the next 3 months and, with a 90% probability hold a price between $15.95 and $18.30 at the end of this 3-month period.
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ELME Signals & Forecast
The Elme Communities stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $15.44 and $15.60. 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). 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. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -2.27%. 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 $0.245 between high and low, or 1.56%. For the last week the stock has had daily average volatility of 1.60%.
Since the Elme Communities has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $15.11 (-5.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (ELME) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Elme Communities to open at $15.85, and during the day (based on 14 day Average True Range), to move between $15.62 and $16.24, which gives a possible trading interval of +/-$0.310 (+/-1.95%) up or down from last closing price. If Elme Communities takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.01 (0.50%) than the support at $15.31 (3.89%), 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 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: -0.673 Hold/Accumulate Unchanged
Predicted Opening Price for Elme Communities of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $15.85 ( 0.492%) | $15.93 |
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 | 16.10 | 1.05% |
| R2 | 16.00 | 0.459% |
| R1 | 15.95 | 0.0958% |
| Price | 15.93 | |
| S1 | 15.76 | -1.08% |
| S2 | 15.70 | -1.44% |
| S3 | 15.61 | -2.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.19 | 1.63% |
| R2 | 16.09 | 1.00% |
| R1 | 16.01 | 0.502% |
| Price | 15.93 | |
| S1 | 15.31 | -3.89% |
| S2 | 15.04 | -5.59% |
| S3 | 14.86 | -6.72% |
ELME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | Jun 20, 2024 | Jul 03, 2024 | $0.180 | 1.13% |
| 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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