Empire Co. Ltd. Class A Stock Forecast

Empire Co. Ltd. Class A stock downgraded to Sell Candidate
(Updated on May 16, 2024)

EMP-A.TO Signals & Forecast

The Empire Co. Ltd. Class A 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 $33.11 and $32.37. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 14, 2024, and so far it has fallen -0.624%. Further fall is indicated until a new bottom pivot has been found. 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. The stock had a Golden Star Signal on Thursday, May 02, 2024 in the short-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 Empire Co. Ltd. Class A stock

Empire Co. Ltd. Class A finds support from accumulated volume at $32.95 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 1.37%

The Empire Co. Ltd. Class A stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EMP-A.TO) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Empire Co. Ltd. Class A to open at $33.44, and during the day (based on 14 day Average True Range), to move between $33.01 and $33.87, which gives a possible trading interval of +/-$0.427 (+/-1.28%) up or down from last closing price. If Empire Co. Ltd. Class A takes out the full calculated possible swing range there will be an estimated 2.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.84 (1.20%) than the support at $32.95 (1.47%), 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 Empire Co. Ltd. Class A stock A Buy?

Empire Co. Ltd. Class A 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: -1.090 Sell Candidate Downgraded

Predicted Opening Price for Empire Co. Ltd. Class A of Friday, May 17, 2024

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