Espey Manufacturing & Electronics Corp Stock Forecast
Green day on Monday for Espey Manufacturing & Electronics Corp
(Updated on Apr 22, 2024)
The Espey Manufacturing & Electronics Corp stock price gained 0.0459% on the last trading day (Monday, 22nd Apr 2024), rising from $21.81 to $21.82. During the last trading day the stock fluctuated 2.84% from a day low at $21.82 to a day high of $22.44. The price has fallen in 6 of the last 10 days and is down by -10.79% for this period. Volume fell on the last day by -7 thousand shares and in total, 13 thousand shares were bought and sold for approximately $292.76 thousand. 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 has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $21.83. A reaction back to this level may hold a second chance to get out before further falls.
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ESP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.0459%. 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 Espey Manufacturing & Electronics Corp 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 $22.33 and $24.53. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Espey Manufacturing & Electronics Corp stock
Espey Manufacturing & Electronics Corp finds support from accumulated volume at $21.81 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 $0.620 between high and low, or 2.84%. For the last week the stock has had daily average volatility of 4.93%.
Espey Manufacturing & Electronics Corp is oversold on RSI14 (4). 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 (ESP) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Espey Manufacturing & Electronics Corp to open at $22.03, and during the day (based on 14 day Average True Range), to move between $20.95 and $22.69, which gives a possible trading interval of +/-$0.87 (+/-3.99%) up or down from last closing price. If Espey Manufacturing & Electronics Corp takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.81 (0.05%) than the resistance at $25.00 (14.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Espey Manufacturing & Electronics Corp stock A Buy?
The Espey Manufacturing & Electronics Corp stock holds several negative signals and despite the positive trend, we believe Espey Manufacturing & Electronics Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.628 Sell Candidate Unchanged
Predicted Opening Price for Espey Manufacturing & Electronics Corp of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $22.03 ( 0.95%) | $21.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.65 | 3.79 % | |
| R2 | 22.41 | 2.70 % | ||
| R1 | 22.26 | 2.03 % | ||
| Current price: | 21.82 | |||
| Support | S1 | 21.79 | -0.138 % | |
| S2 | 21.64 | -0.81 % | ||
| S3 | 21.41 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.56 | 17.14 % | |
| R2 | 25.20 | 15.49 % | ||
| R1 | 25.00 | 14.57 % | ||
| Current price | 21.82 | |||
| Support | S1 | 21.81 | -0.0458% | |
| S2 | 21.50 | -1.47% | ||
| S3 | 21.04 | -3.57% |
ESP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 11, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.175 | 0.693% |
| 2 | Dec 04, 2023 | Dec 14, 2023 | Dec 22, 2023 | $0.150 | 0.82% |
| 3 | Sep 21, 2023 | Sep 29, 2023 | Oct 10, 2023 | $0.150 | 0.96% |
| 4 | Jun 12, 2023 | Jun 22, 2023 | Jun 28, 2023 | $0.100 | 0.585% |
| 5 | Mar 13, 2023 | Mar 23, 2023 | Mar 31, 2023 | $0.100 | 0.494% |
FAQ
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