Enghouse Systems Limited Stock Forecast

Stronger technical forecast for Enghouse Systems Limited stock price after Monday trading.
(Updated on Jun 24, 2024)

ENGH.TO Signals & Forecast

The Enghouse Systems Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $29.92. On a fall, the stock will find some support from the long-term average at approximately $29.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 0.81%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.

Support, Risk & Stop-loss for Enghouse Systems Limited stock

Enghouse Systems Limited finds support from accumulated volume at $29.35 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 1.69%

Our recommended stop-loss: $28.06 (-5.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (ENGH.TO) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Enghouse Systems Limited to open at $29.73, and during the day (based on 14 day Average True Range), to move between $29.03 and $30.43, which gives a possible trading interval of +/-$0.695 (+/-2.34%) up or down from last closing price. If Enghouse Systems Limited takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $29.35 (1.28%) than the resistance at $30.46 (2.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Enghouse Systems Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.109 Buy Candidate Upgraded

Predicted Opening Price for Enghouse Systems Limited of Tuesday, June 25, 2024

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