Elron Ventures Ltd Stock Forecast
Evaluation of Elron Ventures Ltd stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The Elron Ventures Ltd stock price fell by -0.508% on the last day (Thursday, 27th Jun 2024) from ₪492.50 to ₪490.00. During the last trading day the stock fluctuated 0.510% from a day low at ₪490.00 to a day high of ₪492.50. The price has fallen in 5 of the last 10 days and is down by -2.29% 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 -13 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₪1.22 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.07% during the next 3 months and, with a 90% probability hold a price between ₪445.77 and ₪471.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ELRN.TA Signals & Forecast
There are mixed signals in the stock today. The Elron Ventures Ltd 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 ₪493.20 and ₪502.34. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.74%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Elron Ventures Ltd stock
Elron Ventures Ltd finds support from accumulated volume at ₪481.60 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 ₪2.50 between high and low, or 0.510%. For the last week the stock has had daily average volatility of 3.21%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELRN.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Elron Ventures Ltd to open at ₪490.83, and during the day (based on 14 day Average True Range), to move between ₪478.20 and ₪501.80, which gives a possible trading interval of +/-₪11.80 (+/-2.41%) up or down from last closing price. If Elron Ventures Ltd takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪481.60 (1.71%) than the resistance at ₪513.10 (4.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Elron Ventures Ltd will release earnings BMO on Monday, July 01, 2024. We will update the financials statements for Elron Ventures Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.55% in the first trading day after earnings release.
Is Elron Ventures Ltd stock A Buy?
Elron Ventures Ltd 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. 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: -1.261 Sell Candidate Downgraded
Predicted Opening Price for Elron Ventures Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₪490.83 ( 0.170%) | ₪490.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELRN.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 493.33 | 0.680% |
| R2 | 492.38 | 0.485% |
| R1 | 491.79 | 0.365% |
| Price | 490.00 | |
| S1 | 489.88 | -0.0248% |
| S2 | 489.29 | -0.145% |
| S3 | 488.33 | -0.340% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 519.70 | 6.06% |
| R2 | 515.30 | 5.16% |
| R1 | 513.10 | 4.71% |
| Price | 490.00 | |
| S1 | 481.60 | -1.71% |
| S2 | 0 | - |
| S3 | 0 | - |
ELRN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 22, 2024 | Jan 22, 2024 | Feb 05, 2024 | ₪681.71 | 128.67% |
| 2 | Nov 28, 2022 | Nov 28, 2022 | Nov 28, 2022 | ₪66.35 | 10.26% |
| 3 | Sep 12, 2016 | Sep 12, 2016 | Sep 12, 2016 | ₪50.43 | 3.04% |
| 4 | Sep 08, 2014 | Sep 08, 2014 | Sep 08, 2014 | ₪369.83 | 19.90% |
| 5 | Jul 09, 2012 | Jul 09, 2012 | Jul 09, 2012 | ₪50.57 | 3.75% |
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