Essent Group Ltd Stock Forecast
Evaluation of Essent Group Ltd stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Essent Group Ltd stock price gained 0.650% on the last trading day (Thursday, 18th Apr 2024), rising from $52.33 to $52.67. During the last trading day the stock fluctuated 1.34% from a day low at $52.42 to a day high of $53.13. The price has fallen in 7 of the last 10 days and is down by -6.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 351 thousand shares were bought and sold for approximately $18.48 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.36 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 3.72% during the next 3 months and, with a 90% probability hold a price between $54.31 and $62.23 at the end of this 3-month period.
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ESNT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.650%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Essent Group Ltd 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 $53.25 and $55.63. 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).
Support, Risk & Stop-loss for Essent Group Ltd stock
Essent Group Ltd finds support from accumulated volume at $52.31 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 $0.705 between high and low, or 1.34%. For the last week, the stock has had daily average volatility of 1.54%.
Essent Group Ltd is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESNT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Essent Group Ltd to open at $52.74, and during the day (based on 14 day Average True Range), to move between $51.55 and $53.79, which gives a possible trading interval of +/-$1.12 (+/-2.13%) up or down from last closing price. If Essent Group Ltd takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $52.31 (0.68%) than the resistance at $53.06 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Essent Group Ltd stock A Buy?
The Essent Group Ltd stock holds several negative signals and despite the positive trend, we believe Essent Group Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.920 Sell Candidate Downgraded
Predicted Opening Price for Essent Group Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $52.74 ( 0.130%) | $52.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESNT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.44 | 1.47 % | |
| R2 | 53.17 | 0.96 % | ||
| R1 | 53.01 | 0.641 % | ||
| Current price: | 52.67 | |||
| Support | S1 | 52.47 | -0.382 % | |
| S2 | 52.30 | -0.697 % | ||
| S3 | 52.03 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.65 | 5.66 % | |
| R2 | 53.57 | 1.71 % | ||
| R1 | 53.06 | 0.740 % | ||
| Current price | 52.67 | |||
| Support | S1 | 52.31 | -0.684% | |
| S2 | 51.75 | -1.75% | ||
| S3 | 51.73 | -1.78% |
ESNT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 09, 2024 | Mar 12, 2024 | Mar 22, 2024 | $0.280 | 0.485% |
| 2 | Nov 02, 2023 | Nov 30, 2023 | Dec 11, 2023 | $0.250 | 0.500% |
| 3 | Aug 04, 2023 | Aug 31, 2023 | Sep 11, 2023 | $0.250 | 0.505% |
| 4 | May 05, 2023 | May 31, 2023 | Jun 12, 2023 | $0.250 | 0.539% |
| 5 | Feb 10, 2023 | Mar 09, 2023 | Mar 20, 2023 | $0.250 | 0.660% |
FAQ
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