Emcor Group Inc Stock Forecast
Emcor Group Inc stock price ended at £0.376 on Thursday, after losing 0%.
(Updated on May 30, 2024)
No changes to the price of Emcor Group Inc stock on the last trading day (Thursday, 30th May 2024). During the last trading day the stock fluctuated 0% from a day low at £0.376 to a day high of £0.376. The price has risen in 4 of the last 10 days but is still down by -2.39% for this period.
The stock lies in the middle of a very wide and 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 -37.85% during the next 3 months and, with a 90% probability hold a price between £0.187 and £0.293 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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EME.L Signals & Forecast
There are mixed signals in the stock today. The Emcor Group Inc 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 £0.381 and £0.467. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.29%. 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).
A buy signal from a double bottom formation was found on Thursday, May 23, 2024 and based on theory for this formation the price should go up by 17.46% to £0.441 within 5 trading days since signal was issued (Friday, May 31, 2024).
Support, Risk & Stop-loss for Emcor Group Inc stock
Emcor Group Inc finds support from accumulated volume at £0.373 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 £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.17%
Our recommended stop-loss: £0.354 (-5.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (EME.L) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Emcor Group Inc to open at £0.376, and during the day (based on 14 day Average True Range), to move between £0.322 and £0.429, which gives a possible trading interval of +/-£0.0535 (+/-14.24%) up or down from last closing price. If Emcor Group Inc takes out the full calculated possible swing range there will be an estimated 28.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.373 (0.88%) than the resistance at £0.390 (3.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Emcor Group Inc stock A Buy?
Emcor Group Inc 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Emcor Group Inc of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| £0.376 ( 0.00000000%) | £0.376 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EME.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.376 | 0.00000000 % | |
| R2 | 0.376 | 0.00000000 % | ||
| R1 | 0.376 | 0.00000000 % | ||
| Current price: | 0.376 | |||
| Support | S1 | 0.376 | 0.00000000 % | |
| S2 | 0.376 | 0.00000000 % | ||
| S3 | 0.376 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.445 | 18.41 % | |
| R2 | 0.396 | 5.24 % | ||
| R1 | 0.390 | 3.78 % | ||
| Current price | 0.376 | |||
| Support | S1 | 0.373 | -0.88% | |
| S2 | 0.371 | -1.28% | ||
| S3 | 0 | . |
EME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 03, 2016 | Oct 20, 2016 | Nov 14, 2016 | £0.0779 | 5.20% |
FAQ
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