Espey Manufacturing & Electronics Corp Stock Forecast
Green day on Friday for Espey Manufacturing & Electronics Corp stock after gaining 0.334%
(Updated on Apr 26, 2024)
The Espey Manufacturing & Electronics Corp stock price gained 0.334% on the last trading day (Friday, 26th Apr 2024), rising from £89.70 to £90.00. During the last trading day the stock fluctuated 1.03% from a day low at £89.28 to a day high of £90.20. The price has risen in 6 of the last 10 days but is still down by -0.55% for this period. Volume fell on the last day by -194 thousand shares and in total, 960 thousand shares were bought and sold for approximately £86.38 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Espey Manufacturing & Electronics Corp stock with a 90% probability to be traded between £87.77 and £96.26 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ESP.L Signals & Forecast
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 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 £90.26 and £92.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -1.21%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 11.74% to £100.56 within 44 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Espey Manufacturing & Electronics Corp stock
Espey Manufacturing & Electronics Corp finds support from accumulated volume at £89.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £0.92 (1.03%) between high and low. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: £86.39 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ESP.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Espey Manufacturing & Electronics Corp to open at £89.83, and during the day (based on 14 day Average True Range), to move between £88.30 and £91.70, which gives a possible trading interval of +/-£1.70 (+/-1.89%) 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 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £89.70 (0.33%) than the resistance at £91.00 (1.11%), 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?
Espey Manufacturing & Electronics Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.872 Hold/Accumulate Unchanged
Predicted Opening Price for Espey Manufacturing & Electronics Corp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £89.83 ( 0.192%) | £90.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 90.75 | 0.83 % | |
| R2 | 90.39 | 0.439 % | ||
| R1 | 90.18 | 0.198 % | ||
| Current price: | 90.00 | |||
| Support | S1 | 89.48 | -0.581 % | |
| S2 | 89.26 | -0.82 % | ||
| S3 | 88.91 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.70 | 5.22 % | |
| R2 | 94.00 | 4.44 % | ||
| R1 | 91.00 | 1.11 % | ||
| Current price | 90.00 | |||
| Support | S1 | 89.70 | -0.333% | |
| S2 | 89.50 | -0.556% | ||
| S3 | 88.70 | -1.44% |
ESP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | Apr 19, 2024 | £0.94 | 1.03% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | £0 | 0% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £0.81 | 0.91% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | £0.88 | 1.01% |
| 5 | Oct 31, 2022 | Nov 10, 2022 | Nov 25, 2022 | £0.625 | 0.691% |
FAQ
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