Esab Corporation Stock Forecast
Esab Corporation stock price down 0.172% on Tuesday
(Updated on Jul 02, 2024)
The Esab Corporation stock price fell by -0.172% on the last day (Tuesday, 2nd Jul 2024) from $92.76 to $92.60. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.73% from a day low at $92.06 to a day high of $93.65. The price has fallen in 6 of the last 10 days and is down by -1.41% for this period. Volume has increased on the last day by 90 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, 254 thousand shares were bought and sold for approximately $23.49 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.96% during the next 3 months and, with a 90% probability hold a price between $74.46 and $84.97 at the end of this 3-month period. 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ESAB Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.652%. 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 Esab Corporation 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 $94.37 and $99.35. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Esab Corporation stock
Esab Corporation finds support from accumulated volume at $92.00 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 $1.59 between high and low, or 1.73%. For the last week the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESAB) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Esab Corporation to open at $92.77, and during the day (based on 14 day Average True Range), to move between $90.01 and $95.19, which gives a possible trading interval of +/-$2.59 (+/-2.80%) up or down from last closing price. If Esab Corporation takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $92.00 (0.65%) than the resistance at $95.37 (2.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Esab Corporation stock A Buy?
Esab Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.692 Sell Candidate Unchanged
Predicted Opening Price for Esab Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $92.77 ( 0.184%) | $92.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESAB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 94.36 | 1.90% |
| R2 | 93.75 | 1.24% |
| R1 | 93.38 | 0.84% |
| Price | 92.60 | |
| S1 | 92.16 | -0.472% |
| S2 | 91.79 | -0.88% |
| S3 | 91.18 | -1.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 96.56 | 4.28% |
| R2 | 95.53 | 3.16% |
| R1 | 95.37 | 2.99% |
| Price | 92.60 | |
| S1 | 92.00 | -0.648% |
| S2 | 0 | - |
| S3 | 0 | - |
ESAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | Jun 28, 2024 | Jul 12, 2024 | $0.0800 | 0.0864% |
| 2 | Feb 22, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0600 | 0.0556% |
| 3 | Dec 06, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.0600 | 0.0715% |
| 4 | Sep 14, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.0600 | 0.0857% |
| 5 | May 11, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.0600 | 0.0877% |
FAQ
Click here for our free guide on how to buy Esab Corporation Stock.
