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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ERIE
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Red day on Friday for Erie Indemnity Company
(Updated on Dec 08, 2023)


Buy or Hold candidate since Nov 30, 2023 Gain 3.42% PDF
The Erie Indemnity Company stock price fell by -0.088229527481858% on the last day (Friday, 8th Dec 2023) from $306.02 to $305.75. During the last trading day the stock fluctuated 1.72% from a day low at $302.33 to a day high of $307.52. The price has been going up and down for this period, and there has been a 4.43% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -20 thousand shares and in total, 56 thousand shares were bought and sold for approximately $17.13 million.

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The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $309.54 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Erie Indemnity Company stock with a 90% probability to be traded between $268.15 and $305.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

ERIE Signals & Forecast

The Erie Indemnity Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $302.28 and $287.94. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, December 07, 2023, and so far it has fallen -0.0882%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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Support, Risk & Stop-loss for Erie Indemnity Company stock

Erie Indemnity Company finds support from accumulated volume at $294.34 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 $5.19 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 2.66%.

The Erie Indemnity Company stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $295.19 (-3.45%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ERIE) For The Upcoming Trading Day Of Monday 11th

For the upcoming trading day on Monday, 11th we expect Erie Indemnity Company to open at $305.20, and during the day (based on 14 day Average True Range), to move between $299.06 and $312.44, which gives a possible trading interval of +/-$6.69 (+/-2.19%) up or down from last closing price. If Erie Indemnity Company takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $306.69 (0.31%) than the support at $294.34 (3.73%), 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 Erie Indemnity Company stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Erie Indemnity Company stock to perform well in the short-term period.

Current score: 1.485 Open Broker Account

Buy Candidate Unchanged

Predicted Opening Price for Erie Indemnity Company of Monday, December 11, 2023

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

Fair opening price December 11, 2023 Current price
$305.20 $305.75 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price
Resistance R3 310.39 1.52 %
R2 308.41 0.87 %
R1 307.18 0.469 %
Current price: 305.75
Support S1 303.22 -0.83 %
S2 301.99 -1.23 %
S3 300.01 -1.88 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 311.80 1.98 %
R2 311.42 1.85 %
R1 306.69 0.307 %
Current price 305.75
Support S1 294.34 -3.73%
S2 288.95 -5.49%
S3 285.48 -6.63%
What is the symbol for Erie Indemnity Company Stock and on which exchange is it traded?
The symbol for Erie Indemnity Company is ERIE and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Erie Indemnity Company Stock?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Erie Indemnity Company stock to perform well in the short-term period.

How to buy Erie Indemnity Company Stock?
Erie Indemnity Company Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Erie Indemnity Company Stock.

What's the current price of Erie Indemnity Company Stock?
As of the end of day on the 2023-12-08, the price of an Erie Indemnity Company (ERIE) share was $305.75.

What is the 52-week high and low for Erie Indemnity Company Stock?
The 52-week high for Erie Indemnity Company Stock is $313.87 and the 52-week low is $199.49.

What is the market capitalization of Erie Indemnity Company Stock?
As of the 2023-12-08, the market capitalization of Erie Indemnity Company is 16.002B.

When is the next earnings date for Erie Indemnity Company?
The upcoming earnings date for Erie Indemnity Company is 2024-03-06 00:00:00.

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About Erie Indemnity Company

Erie Indemnity Company Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company provides sales, underwriting, policy issuance, and renewal services for the policyholders on behalf of the Erie Insurance Exchange. It also offers sales related services, including agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and polic... ERIE Profile

ERIE Dividend Data

1.97%

Dividend Yield (TTM)
Payout Ratio (TTM) 54.40%
Frequency Quarterly
Amount Per Share $1.19
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