The Ensign Group Stock Forecast
The Ensign Group stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The The Ensign Group stock price gained 0.292% on the last trading day (Friday, 3rd May 2024), rising from $116.55 to $116.89. During the last trading day the stock fluctuated 2.37% from a day low at $114.90 to a day high of $117.63. The price has been going up and down for this period, and there has been a -1.16% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 thousand more shares were traded than the day before. In total, 531 thousand shares were bought and sold for approximately $62.06 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $115.80 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.00% during the next 3 months and, with a 90% probability hold a price between $112.32 and $119.64 at the end of this 3-month period.
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ENSG Signals & Forecast
There are mixed signals in the stock today. The The Ensign 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 $117.78 and $120.12. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.352%. 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 The Ensign Group stock
The Ensign Group finds support from accumulated volume at $116.55 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.73 between high and low, or 2.37%. For the last week the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: $109.81 (-6.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (ENSG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect The Ensign Group to open at $116.47, and during the day (based on 14 day Average True Range), to move between $114.12 and $119.66, which gives a possible trading interval of +/-$2.77 (+/-2.37%) up or down from last closing price. If The Ensign Group takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $116.55 (0.29%) than the resistance at $117.41 (0.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Ensign Group stock A Buy?
The Ensign 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: 0.413 Hold/Accumulate Upgraded
Predicted Opening Price for The Ensign Group of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $116.47 ( 0.356%) | $116.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENSG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 119.20 | 1.98 % | |
| R2 | 118.16 | 1.09 % | ||
| R1 | 117.52 | 0.536 % | ||
| Current price: | 116.89 | |||
| Support | S1 | 115.43 | -1.25 % | |
| S2 | 114.79 | -1.80 % | ||
| S3 | 113.75 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.69 | 4.96 % | |
| R2 | 121.34 | 3.81 % | ||
| R1 | 117.41 | 0.445 % | ||
| Current price | 116.89 | |||
| Support | S1 | 116.55 | -0.291% | |
| S2 | 116.48 | -0.351% | ||
| S3 | 0 | . |
ENSG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.0600 | 0.0507% |
| 2 | Dec 15, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.0600 | 0.0530% |
| 3 | Sep 15, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.0600 | 0.0621% |
| 4 | Jun 16, 2023 | Jun 29, 2023 | Jul 31, 2023 | $0.0580 | 0.0599% |
| 5 | Mar 17, 2023 | Mar 30, 2023 | Apr 28, 2023 | $0.0580 | 0.0597% |
FAQ
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