Essent Group Ltd Stock Forecast
Essent Group Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 08, 2024)
No changes to the price of Essent Group Ltd stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 0% from a day low at £182.20 to a day high of £182.20. The price has been going up and down for this period, and there has been a 6.18% gain for the last 2 weeks.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.15% during the next 3 months and, with a 90% probability hold a price between £185.41 and £202.68 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ESNT.L Signals & Forecast
The Essent Group Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £179.63 and £176.57. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Essent Group Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at £171.60 and £170.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Essent Group Ltd finds support just below today's level at £171.60. If this is broken, then the next support from accumulated volume will be at £170.20 and £165.40.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.61%
Our recommended stop-loss: £175.13 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ESNT.L) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Essent Group Ltd to open at £182.20, and during the day (based on 14 day Average True Range), to move between £178.11 and £186.29, which gives a possible trading interval of +/-£4.09 (+/-2.25%) up or down from last closing price. If Essent Group Ltd takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £171.60, some £10.60 (5.82%) from the current price of £182.20, our system finds the risk reward attractive.
Is Essent Group Ltd stock A Buy?
Essent Group Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Essent Group Ltd of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
£182.20 ( 0.00000000%) | £182.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESNT.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 182.20 | 0.00000000 % | |
R2 | 182.20 | 0.00000000 % | ||
R1 | 182.20 | 0.00000000 % | ||
Current price: | 182.20 | |||
Support | S1 | 182.20 | 0.00000000 % | |
S2 | 182.20 | 0.00000000 % | ||
S3 | 182.20 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 182.20 | |||
Support | S1 | 171.60 | -5.82% | |
S2 | 170.20 | -6.59% | ||
S3 | 165.40 | -9.22% |
ESNT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | May 16, 2024 | Jul 05, 2024 | £2.40 | 1.30% |
2 | May 18, 2023 | May 18, 2023 | May 18, 2023 | £1.00 | 0.515% |
3 | Feb 02, 2023 | Mar 20, 2023 | Apr 27, 2023 | £29.80 | 14.79% |
4 | Aug 17, 2022 | Sep 22, 2022 | Oct 28, 2022 | £2.30 | 1.02% |
5 | Mar 18, 2022 | Apr 21, 2022 | Jun 01, 2022 | £4.00 | 1.26% |
FAQ
Click here for our free guide on how to buy Essent Group Ltd Stock.