El-mor Electric Installation & Services Stock Forecast
El-mor Electric Installation & Services stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The El-mor Electric Installation & Services stock price fell by -0.579% on the last day (Tuesday, 25th Jun 2024) from ₪984.60 to ₪978.90. During the last trading day the stock fluctuated 0.97% from a day low at ₪975.10 to a day high of ₪984.60. The price has fallen in 7 of the last 10 days and is down by -3.56% 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 -5 thousand shares and in total, 926 shares were bought and sold for approximately ₪906.46 thousand.
Given the current horizontal trend, you can expect El-mor Electric Installation & Services stock with a 90% probability to be traded between ₪959.58 and ₪1,053.52 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ELMR.TA Signals & Forecast
There are few to no technical positive signals at the moment. The El-mor Electric Installation & Services 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 ₪995.30 and ₪1,025.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -9.94%. 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 El-mor Electric Installation & Services stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ₪9.50 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 0.86%
El-mor Electric Installation & Services is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELMR.TA) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect El-mor Electric Installation & Services (1986) Ltd. to open at ₪979.53, and during the day (based on 14 day Average True Range), to move between ₪966.68 and ₪991.12, which gives a possible trading interval of +/-₪12.22 (+/-1.25%) up or down from last closing price. If El-mor Electric Installation & Services (1986) Ltd. takes out the full calculated possible swing range there will be an estimated 2.50% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₪999.00, some ₪20.10 (2.05%) from the current price of ₪978.90, our system finds the risk reward not very attractive.
Is El-mor Electric Installation & Services (1986) Ltd. stock A Buy?
El-mor Electric Installation & Services holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -2.393 Sell Candidate Downgraded
Predicted Opening Price for El-mor Electric Installation & Services (1986) Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₪979.53 ( 0.0647%) | ₪978.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELMR.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 989.03 | 1.04% |
| R2 | 985.40 | 0.664% |
| R1 | 983.16 | 0.435% |
| Price | 978.90 | |
| S1 | 975.90 | -0.306% |
| S2 | 973.66 | -0.535% |
| S3 | 970.03 | -0.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,036.00 | 5.83% |
| R2 | 1,015.00 | 3.69% |
| R1 | 999.00 | 2.05% |
| Price | 978.90 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
ELMR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | Apr 17, 2024 | May 05, 2024 | ₪24.00 | 2.21% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Oct 12, 2023 | ₪26.00 | 2.97% |
| 3 | Apr 02, 2023 | Apr 02, 2023 | Apr 02, 2023 | ₪20.00 | 2.05% |
| 4 | Sep 11, 2022 | Sep 11, 2022 | Sep 11, 2022 | ₪23.00 | 1.61% |
| 5 | Apr 03, 2022 | Apr 03, 2022 | Apr 03, 2022 | ₪19.00 | 1.50% |
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