Entergy New Orleans Inc. 1st Mtg Bd ETF Forecast

Entergy New Orleans Inc. 1st Mtg Bd ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)

ENO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.45%. 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. The Entergy New Orleans Inc. 1st Mtg Bd ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $23.62. On a fall, the ETF will find some support from the short-term average at $22.93. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Entergy New Orleans Inc. 1st Mtg Bd ETF

Entergy New Orleans Inc. 1st Mtg Bd finds support from accumulated volume at $22.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.220 between high and low, or 0.96%. For the last week the ETF has had daily average volatility of 1.28%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ENO) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 to open at $23.01, and during the day (based on 14 day Average True Range), to move between $22.70 and $23.32, which gives a possible trading interval of +/-$0.313 (+/-1.36%) up or down from last closing price. If Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.97 (0.17%) than the resistance at $23.87 (3.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 ETF A Buy?

Entergy New Orleans Inc. 1st Mtg Bd 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 ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.589 Sell Candidate Downgraded

Predicted Opening Price for Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 of Friday, May 3, 2024

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