Elbit Systems Ltd. Stock Forecast
Elbit Systems Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Elbit Systems Ltd. stock price gained 2.12% on the last trading day (Tuesday, 2nd Jul 2024), rising from $178.98 to $182.78. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.761% from a day low at $181.40 to a day high of $182.78. The price has fallen in 6 of the last 10 days and is down by -0.56% for this period. Volume fell on the last day by -5 thousand shares and in total, 33 thousand shares were bought and sold for approximately $6.07 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 -12.50% during the next 3 months and, with a 90% probability hold a price between $153.09 and $164.31 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.
ESLT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 3.70%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Elbit Systems Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $188.59. On a fall, the stock will find some support from the short-term average at $178.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Elbit Systems Ltd. stock
Elbit Systems Ltd. finds support from accumulated volume at $181.47 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 $1.38 between high and low, or 0.761%. For the last week, the stock has had daily average volatility of 0.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESLT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Elbit Systems Ltd. to open at $182.32, and during the day (based on 14 day Average True Range), to move between $179.83 and $185.73, which gives a possible trading interval of +/-$2.95 (+/-1.61%) up or down from last closing price. If Elbit Systems Ltd. takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $183.81 (0.56%) than the support at $181.47 (0.72%), 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 Elbit Systems Ltd. stock A Buy?
Elbit Systems Ltd. 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: -1.687 Sell Candidate Downgraded
Predicted Opening Price for Elbit Systems Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $182.32 ( 0.252%) | $182.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESLT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 183.70 | 0.503% |
| R2 | 183.17 | 0.215% |
| R1 | 182.85 | 0.0367% |
| Price | 182.78 | |
| S1 | 181.79 | -0.540% |
| S2 | 181.47 | -0.718% |
| S3 | 180.94 | -1.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 192.55 | 5.35% |
| R2 | 190.69 | 4.33% |
| R1 | 183.81 | 0.564% |
| Price | 182.78 | |
| S1 | 181.47 | -0.717% |
| S2 | 179.40 | -1.85% |
| S3 | 176.25 | -3.57% |
ESLT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jul 01, 2024 | $0.420 | 0.235% |
| 2 | Mar 25, 2024 | Apr 23, 2024 | May 06, 2024 | $0.420 | 0.210% |
| 3 | Dec 26, 2023 | Dec 26, 2023 | Jan 08, 2024 | $0.500 | 0.241% |
| 4 | Nov 27, 2023 | Dec 22, 2023 | Jan 08, 2024 | $0.420 | 0.203% |
| 5 | Aug 14, 2023 | Oct 09, 2023 | Oct 23, 2023 | $0.500 | 0.265% |
FAQ
Click here for our free guide on how to buy Elbit Systems Ltd. Stock.
