Equity Lifestyle Properties Inc Stock Forecast
Equity Lifestyle Properties Inc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Equity Lifestyle Properties Inc stock price gained 3.63% on the last trading day (Thursday, 2nd May 2024), rising from $60.95 to $63.16. During the last trading day the stock fluctuated 3.49% from a day low at $61.12 to a day high of $63.25. The price has fallen in 6 of the last 10 days but is still up by 1.33% 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, 301 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $99.90 million.
Given the current short-term trend, the stock is expected to fall -9.95% during the next 3 months and, with a 90% probability hold a price between $54.08 and $56.87 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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ELS Signals & Forecast
Mostly positive signals in the chart today. The Equity Lifestyle Properties Inc 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 $61.10 and $62.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 4.76%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Equity Lifestyle Properties Inc stock
Equity Lifestyle Properties Inc finds support from accumulated volume at $61.77 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 $2.14 between high and low, or 3.49%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $60.62 (-4.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ELS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Equity Lifestyle Properties Inc to open at $62.51, and during the day (based on 14 day Average True Range), to move between $61.96 and $64.36, which gives a possible trading interval of +/-$1.20 (+/-1.90%) up or down from last closing price. If Equity Lifestyle Properties Inc takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $64.04 (1.39%) than the support at $61.77 (2.20%), 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 Equity Lifestyle Properties Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.131 Buy Candidate Upgraded
Predicted Opening Price for Equity Lifestyle Properties Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $62.51 ( 1.03%) | $63.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.64 | 2.35 % | |
| R2 | 63.83 | 1.06 % | ||
| R1 | 63.32 | 0.260 % | ||
| Current price: | 63.16 | |||
| Support | S1 | 61.69 | -2.32 % | |
| S2 | 61.19 | -3.12 % | ||
| S3 | 60.37 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.18 | 4.78 % | |
| R2 | 64.40 | 1.96 % | ||
| R1 | 64.04 | 1.39 % | ||
| Current price | 63.16 | |||
| Support | S1 | 61.77 | -2.20% | |
| S2 | 61.32 | -2.91% | ||
| S3 | 61.07 | -3.31% |
ELS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.478 | 0.782% |
| 2 | Oct 24, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.448 | 0.637% |
| 3 | Jul 25, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.448 | 0.693% |
| 4 | Apr 25, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.448 | 0.665% |
| 5 | Feb 07, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.448 | 0.703% |
FAQ
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