Elanor Investors Group Stock Forecast

Elanor Investors Group stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 24, 2024)

ENN.AX Signals & Forecast

There are mixed signals in the stock today. The Elanor Investors Group 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 $1.12 and $1.18. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, May 20, 2024, and so far it has fallen 0%. 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).

Support, Risk & Stop-loss for Elanor Investors Group 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.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0100 between high and low, or 0.90%. For the last week the stock has had daily average volatility of 1.81%.

Our recommended stop-loss: $1.04 (-6.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (ENN.AX) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Elanor Investors Group to open at $1.11, and during the day (based on 14 day Average True Range), to move between $1.09 and $1.13, which gives a possible trading interval of +/-$0.0232 (+/-2.09%) up or down from last closing price. If Elanor Investors Group takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.15, some $0.0400 (3.60%) from the current price of $1.11, our system finds the risk reward not very attractive.

Is Elanor Investors Group stock A Buy?

Elanor Investors Group 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: -0.927 Hold/Accumulate Upgraded

Predicted Opening Price for Elanor Investors Group of Monday, May 27, 2024

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