Enel SpA Stock Forecast
Enel SpA stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Enel SpA stock price fell by -0.333% on the last day (Tuesday, 2nd Jul 2024) from 6.61€ to 6.59€. During the last trading day the stock fluctuated 1.33% from a day low at 6.52€ to a day high of 6.61€. The price has fallen in 6 of the last 10 days but is still up by 2.09% over the past 2 weeks. Volume has increased on the last day by 347 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 25 million shares were bought and sold for approximately 161.50€ million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 6.45€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.71% during the next 3 months and, with a 90% probability hold a price between 7.27€ and 8.21€ at the end of this 3-month period.
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ENEL.MI Signals & Forecast
There are mixed signals in the stock today. The Enel SpA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 6.61€. On a fall, the stock will find some support from the short-term average at 6.55€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -3.76%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Enel SpA stock
Enel SpA finds support from accumulated volume at 6.47€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.0870€ (1.33%) between high and low. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENEL.MI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Enel SpA to open at 6.57€, and during the day (based on 14 day Average True Range), to move between 6.46€ and 6.71€, which gives a possible trading interval of +/-0.125€ (+/-1.89%) up or down from last closing price. If Enel SpA takes out the full calculated possible swing range there will be an estimated 3.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 6.47€ (1.76%) than the resistance at 6.76€ (2.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enel SpA stock A Buy?
Enel SpA 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: -3.706 Sell Candidate Downgraded
Predicted Opening Price for Enel SpA of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| 6.57€ ( 0.218%) | 6.59€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENEL.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.66 | 1.10% |
| R2 | 6.62 | 0.599% |
| R1 | 6.60 | 0.287% |
| Price | 6.59 | |
| S1 | 6.54 | -0.722% |
| S2 | 6.52 | -1.03% |
| S3 | 6.48 | -1.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.84 | 3.90% |
| R2 | 6.81 | 3.46% |
| R1 | 6.76 | 2.58% |
| Price | 6.59 | |
| S1 | 6.47 | -1.76% |
| S2 | 6.34 | -3.77% |
| S3 | 5.70 | -13.45% |
ENEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 22, 2024 | Jul 22, 2024 | Jul 24, 2024 | 0.215€ | 3.26% |
| 2 | Jan 22, 2024 | Jan 22, 2024 | Jan 24, 2024 | 0.215€ | 3.40% |
| 3 | Jul 24, 2023 | Jul 24, 2023 | Jul 24, 2023 | 0.200€ | 3.23% |
| 4 | Jan 23, 2023 | Jan 23, 2023 | Jan 23, 2023 | 0.200€ | 3.66% |
| 5 | Jul 18, 2022 | Jul 18, 2022 | Jul 18, 2022 | 0.190€ | 3.87% |
FAQ
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