ENEL SOCIETA PER AZI Stock Forecast
ENEL SOCIETA PER AZI stock upgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The ENEL SOCIETA PER AZI stock price gained 1.56% on the last trading day (Tuesday, 23rd Apr 2024), rising from $6.41 to $6.51. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.24% from a day low at $6.45 to a day high of $6.53. The price has risen in 7 of the last 10 days and is up by 3.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 231 thousand shares were bought and sold for approximately $1.50 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.58 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.38% during the next 3 months and, with a 90% probability hold a price between $5.75 and $6.30 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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ENLAY Signals & Forecast
The ENEL SOCIETA PER AZI stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.25 and $6.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 7.43%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ENEL SOCIETA PER AZI stock
ENEL SOCIETA PER AZI finds support from accumulated volume at $6.48 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0800 between high and low, or 1.24%. For the last week, the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: $6.23 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (ENLAY) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ENEL SOCIETA PER AZI to open at $6.50, and during the day (based on 14 day Average True Range), to move between $6.40 and $6.62, which gives a possible trading interval of +/-$0.114 (+/-1.75%) up or down from last closing price. If ENEL SOCIETA PER AZI takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.52 (0.15%) than the support at $6.48 (0.46%), 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.
Earnings coming up
ENEL SOCIETA PER AZI will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for ENEL SOCIETA PER AZI, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.63% in the first trading day after earnings release.
Is ENEL SOCIETA PER AZI stock A Buy?
ENEL SOCIETA PER AZI holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.404 Hold/Accumulate Upgraded
Predicted Opening Price for ENEL SOCIETA PER AZI of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $6.50 ( 0.205%) | $6.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENLAY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.58 | 1.02 % | |
| R2 | 6.55 | 0.555 % | ||
| R1 | 6.53 | 0.265 % | ||
| Current price: | 6.51 | |||
| Support | S1 | 6.47 | -0.674 % | |
| S2 | 6.45 | -0.96 % | ||
| S3 | 6.42 | -1.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.54 | 0.461 % | |
| R2 | 6.53 | 0.307 % | ||
| R1 | 6.52 | 0.154 % | ||
| Current price | 6.51 | |||
| Support | S1 | 6.48 | -0.461% | |
| S2 | 6.18 | -5.07% | ||
| S3 | 6.10 | -6.30% |
ENLAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 22, 2024 | Jan 22, 2024 | Feb 14, 2024 | $0.125 | 1.98% |
| 2 | Jun 26, 2023 | Jul 24, 2023 | Aug 16, 2023 | $0.215 | 3.38% |
| 3 | Jan 14, 2023 | Jan 23, 2023 | Feb 17, 2023 | $0.211 | 3.71% |
| 4 | Jul 15, 2022 | Jul 18, 2022 | Aug 10, 2022 | $0.210 | 4.12% |
| 5 | Jan 15, 2022 | Jan 24, 2022 | Feb 17, 2022 | $0.215 | 2.95% |
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