Element Solutions Inc. Stock Forecast
Element Solutions Inc. stock price ended at $23.63 on Thursday, after losing 0.589%.
(Updated on Apr 18, 2024)
The Element Solutions Inc. stock price fell by -0.589% on the last day (Thursday, 18th Apr 2024) from $23.77 to $23.63. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 1.77% from a day low at $23.49 to a day high of $23.91. The price has fallen in 8 of the last 10 days and is down by -5.37% for this period. 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 -90 thousand shares and in total, 1 million shares were bought and sold for approximately $25.17 million.
Given the current short-term trend, the stock is expected to rise 11.72% during the next 3 months and, with a 90% probability hold a price between $26.40 and $29.07 at the end of this 3-month period.
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ESI Signals & Forecast
There are few to no technical positive signals at the moment. The Element Solutions Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.43 and $24.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -8.09%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-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 12 Months
The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-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 Element Solutions Inc. stock
Element Solutions Inc. finds support from accumulated volume at $23.20 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 $0.415 between high and low, or 1.77%. For the last week the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Element Solutions Inc. to open at $23.68, and during the day (based on 14 day Average True Range), to move between $23.13 and $24.13, which gives a possible trading interval of +/-$0.496 (+/-2.10%) up or down from last closing price. If Element Solutions Inc. takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.98 (1.48%) than the support at $23.20 (1.82%), 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 Element Solutions Inc. stock A Buy?
The Element Solutions Inc. stock holds several negative signals and despite the positive trend, we believe Element Solutions Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.195 Sell Candidate Unchanged
Predicted Opening Price for Element Solutions Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $23.68 ( 0.190%) | $23.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.09 | 1.95 % | |
| R2 | 23.93 | 1.28 % | ||
| R1 | 23.83 | 0.86 % | ||
| Current price: | 23.63 | |||
| Support | S1 | 23.52 | -0.480 % | |
| S2 | 23.42 | -0.89 % | ||
| S3 | 23.26 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.76 | 4.78 % | |
| R2 | 24.67 | 4.40 % | ||
| R1 | 23.98 | 1.48 % | ||
| Current price | 23.63 | |||
| Support | S1 | 23.20 | -1.82% | |
| S2 | 23.00 | -2.67% | ||
| S3 | 22.98 | -2.75% |
ESI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.0800 | 0.332% |
| 2 | Nov 16, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.0800 | 0.358% |
| 3 | Aug 22, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.0800 | 0.410% |
| 4 | May 22, 2023 | May 31, 2023 | Jun 15, 2023 | $0.0800 | 0.418% |
| 5 | Feb 13, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.0800 | 0.431% |
FAQ
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