Enghouse Systems Limited Stock Forecast
Enghouse Systems Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Enghouse Systems Limited stock price fell by -2.42% on the last day (Friday, 17th May 2024) from $29.70 to $28.98. During the last trading day the stock fluctuated 2.45% from a day low at $28.93 to a day high of $29.64. The price has fallen in 6 of the last 10 days and is down by -3.46% for this period. Volume has increased on the last day by 62 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, 62 thousand shares were bought and sold for approximately $1.80 million.
The stock lies in the middle of a 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 -17.09% during the next 3 months and, with a 90% probability hold a price between $21.88 and $25.41 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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ENGH.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Enghouse Systems Limited 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 $29.77 and $30.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -5.29%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Enghouse Systems Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.710 between high and low, or 2.45%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: $27.64 (-4.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (ENGH.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Enghouse Systems Limited to open at $29.18, and during the day (based on 14 day Average True Range), to move between $28.36 and $29.60, which gives a possible trading interval of +/-$0.623 (+/-2.15%) up or down from last closing price. If Enghouse Systems Limited takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $30.53, some $1.55 (5.35%) from the current price of $28.98, our system finds the risk reward not very attractive.
Is Enghouse Systems Limited stock A Buy?
Enghouse Systems Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Enghouse Systems Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $29.18 ( 0.702%) | $28.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENGH.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.89 | 3.15 % | |
| R2 | 29.62 | 2.22 % | ||
| R1 | 29.45 | 1.64 % | ||
| Current price: | 28.98 | |||
| Support | S1 | 28.91 | -0.234 % | |
| S2 | 28.74 | -0.81 % | ||
| S3 | 28.47 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.30 | 11.46 % | |
| R2 | 31.01 | 7.00 % | ||
| R1 | 30.53 | 5.35 % | ||
| Current price | 28.98 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ENGH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 16, 2024 | $0 | 0% |
| 2 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | $0 | 0% |
| 3 | Aug 16, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.220 | 0.718% |
| 4 | May 16, 2023 | May 16, 2023 | May 31, 2023 | $0.220 | 0.584% |
| 5 | Feb 13, 2023 | Feb 13, 2023 | Feb 28, 2023 | $0.185 | 0.430% |
FAQ
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