EPAM Systems Inc Stock Forecast
EPAM Systems Inc stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The EPAM Systems Inc stock price gained 0.344% on the last trading day (Tuesday, 23rd Apr 2024), rising from $246.95 to $247.80. During the last trading day the stock fluctuated 1.02% from a day low at $247.30 to a day high of $249.81. The price has fallen in 8 of the last 10 days and is down by -9.62% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 354 thousand more shares were traded than the day before. In total, 793 thousand shares were bought and sold for approximately $196.47 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $244.67 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.99% during the next 3 months and, with a 90% probability hold a price between $215.34 and $258.73 at the end of this 3-month period.
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EPAM Signals & Forecast
There are mixed signals in the stock today. The EPAM Systems Inc 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 $248.95 and $277.20. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.748%. 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 EPAM Systems Inc stock
EPAM Systems Inc finds support from accumulated volume at $247.22 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 $2.51 between high and low, or 1.02%. For the last week, the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EPAM) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect EPAM Systems Inc to open at $248.30, and during the day (based on 14 day Average True Range), to move between $241.41 and $254.19, which gives a possible trading interval of +/-$6.39 (+/-2.58%) up or down from last closing price. If EPAM Systems Inc takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $247.22 (0.23%) than the resistance at $278.14 (12.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EPAM Systems Inc stock A Buy?
EPAM Systems Inc 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 stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.409 Sell Candidate Downgraded
Predicted Opening Price for EPAM Systems Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $248.30 ( 0.202%) | $247.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EPAM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 250.82 | 1.22 % | |
| R2 | 249.86 | 0.83 % | ||
| R1 | 249.26 | 0.590 % | ||
| Current price: | 247.80 | |||
| Support | S1 | 247.34 | -0.185 % | |
| S2 | 246.75 | -0.425 % | ||
| S3 | 245.79 | -0.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 301.20 | 21.55 % | |
| R2 | 283.71 | 14.49 % | ||
| R1 | 278.14 | 12.24 % | ||
| Current price | 247.80 | |||
| Support | S1 | 247.22 | -0.234% | |
| S2 | 246.95 | -0.343% | ||
| S3 | 245.96 | -0.743% |
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