Eastern Company (The) Stock Forecast

Red day on Wednesday for Eastern Company (The) stock after losing 0.0312%
(Updated on Apr 24, 2024)

EML Signals & Forecast

The Eastern Company (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $30.68 and $30.16. A breakdown below any of these levels will issue sell signals. 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 Wednesday, March 27, 2024, and so far it has fallen -6.43%. 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. The stock had a Golden Star Signal on Tuesday, July 18, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Eastern Company (The) stock

Eastern Company (The) finds support from accumulated volume at $31.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.425 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 3.59%.

Our recommended stop-loss: $30.70 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (EML) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Eastern Company (The) to open at $31.98, and during the day (based on 14 day Average True Range), to move between $30.52 and $33.48, which gives a possible trading interval of +/-$1.48 (+/-4.62%) up or down from last closing price. If Eastern Company (The) takes out the full calculated possible swing range there will be an estimated 9.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.01 (0.03%) than the support at $31.99 (0.03%), 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 Eastern Company (The) stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eastern Company (The) stock to perform well in the short-term.

Current score: 3.008 Buy Candidate Unchanged

Predicted Opening Price for Eastern Company (The) of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.