Envestnet Inc Stock Forecast
Evaluation of Envestnet Inc stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Envestnet Inc stock price fell by -1.06% on the last day (Tuesday, 7th May 2024) from $63.43 to $62.76. During the last trading day the stock fluctuated 1.96% from a day low at $62.44 to a day high of $63.67. The price has been going up and down for this period, and there has been a 0.3% gain for the last 2 weeks. Volume has increased on the last day by 242 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 517 thousand shares were bought and sold for approximately $32.42 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 29.28% during the next 3 months and, with a 90% probability hold a price between $77.99 and $82.31 at the end of this 3-month period.
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ENV Signals & Forecast
The Envestnet Inc 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 $62.78. On a fall, the stock will find some support from the long-term average at approximately $59.70. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -1.06%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Envestnet Inc stock
Envestnet Inc finds support from accumulated volume at $62.20 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 $1.23 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: $60.66 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ENV) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Envestnet Inc to open at $62.96, and during the day (based on 14 day Average True Range), to move between $60.75 and $64.77, which gives a possible trading interval of +/-$2.01 (+/-3.21%) up or down from last closing price. If Envestnet Inc takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.79 (0.05%) than the support at $62.20 (0.89%), 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.
Is Envestnet Inc stock A Buy?
Envestnet Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.458 Hold/Accumulate Downgraded
Predicted Opening Price for Envestnet Inc of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$62.96 ( 0.311%) | $62.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.18 | 2.26 % | |
R2 | 63.71 | 1.52 % | ||
R1 | 63.42 | 1.06 % | ||
Current price: | 62.76 | |||
Support | S1 | 62.49 | -0.435 % | |
S2 | 62.20 | -0.90 % | ||
S3 | 61.73 | -1.64 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.39 | 1.00 % | |
R2 | 63.33 | 0.91 % | ||
R1 | 62.79 | 0.0478 % | ||
Current price | 62.76 | |||
Support | S1 | 62.20 | -0.89% | |
S2 | 61.80 | -1.53% | ||
S3 | 52.97 | -15.60% |
ENV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 16, 2011 | Sep 16, 2011 | Sep 16, 2011 | $3.12 | 26.69% |
FAQ
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