Ensign Energy Services Inc. Stock Forecast
Ensign Energy Services Inc. stock price ended at $2.48 on Wednesday, after losing 2.75%.
(Updated on May 01, 2024)
The Ensign Energy Services Inc. stock price fell by -2.75% on the last day (Wednesday, 1st May 2024) from $2.55 to $2.48. During the last trading day the stock fluctuated 4.08% from a day low at $2.45 to a day high of $2.55. The price has fallen in 6 of the last 10 days but is still up by 5.08% over the past 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 -36 thousand shares and in total, 182 thousand shares were bought and sold for approximately $451.56 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.38 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.23% during the next 3 months and, with a 90% probability hold a price between $2.81 and $3.47 at the end of this 3-month period.
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ESI.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.90%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ensign Energy Services 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 $2.51 and $2.56. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Ensign Energy Services Inc. stock
Ensign Energy Services Inc. finds support from accumulated volume at $2.37 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.1000 between high and low, or 4.08%. For the last week the stock has had daily average volatility of 4.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESI.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Ensign Energy Services Inc. to open at $2.49, and during the day (based on 14 day Average True Range), to move between $2.37 and $2.59, which gives a possible trading interval of +/-$0.114 (+/-4.62%) up or down from last closing price. If Ensign Energy Services Inc. takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.57 (3.63%) than the support at $2.37 (4.44%), 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.
Earnings coming up
Ensign Energy Services Inc. will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Ensign Energy Services Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.27% in the first trading day after earnings release.
Is Ensign Energy Services Inc. stock A Buy?
The Ensign Energy Services Inc. stock holds several negative signals and despite the positive trend, we believe Ensign Energy Services Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.677 Sell Candidate Unchanged
Predicted Opening Price for Ensign Energy Services Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $2.49 ( 0.538%) | $2.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESI.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.59 | 4.57 % | |
| R2 | 2.56 | 3.03 % | ||
| R1 | 2.53 | 2.08 % | ||
| Current price: | 2.48 | |||
| Support | S1 | 2.46 | -1.00 % | |
| S2 | 2.43 | -1.95 % | ||
| S3 | 2.39 | -3.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.79 | 12.50 % | |
| R2 | 2.59 | 4.44 % | ||
| R1 | 2.57 | 3.63 % | ||
| Current price | 2.48 | |||
| Support | S1 | 2.37 | -4.44% | |
| S2 | 2.16 | -12.90% | ||
| S3 | 2.14 | -13.71% |
ESI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 09, 2020 | Mar 19, 2020 | Apr 03, 2020 | $0.0600 | 10.71% |
| 2 | Dec 18, 2019 | Dec 18, 2019 | Jan 03, 2020 | $0.0600 | 2.11% |
| 3 | Sep 18, 2019 | Sep 18, 2019 | Oct 03, 2019 | $0.120 | 4.21% |
| 4 | Jun 20, 2019 | Jun 20, 2019 | Jul 05, 2019 | $0.120 | 2.76% |
| 5 | Mar 22, 2019 | Mar 22, 2019 | Apr 04, 2019 | $0.120 | 2.19% |
FAQ
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