Espey Manufacturing & Electronics Corp Stock Forecast
Espey Manufacturing & Electronics Corp stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Espey Manufacturing & Electronics Corp stock price gained 1.20% on the last trading day (Friday, 3rd May 2024), rising from $25.00 to $25.30. During the last trading day the stock fluctuated 2.71% from a day low at $25.07 to a day high of $25.75. The price has risen in 7 of the last 10 days and is up by 16% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 14 thousand shares were bought and sold for approximately $364.60 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 lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $25.67 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.12% during the next 3 months and, with a 90% probability hold a price between $20.48 and $24.36 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.
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ESP Signals & Forecast
The Espey Manufacturing & Electronics Corp 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 $24.16 and $24.09. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, April 30, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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 $25.20 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 $0.680 between high and low, or 2.71%. For the last week the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: $24.52 (-3.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ESP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Espey Manufacturing & Electronics Corp to open at $25.37, and during the day (based on 14 day Average True Range), to move between $24.42 and $26.18, which gives a possible trading interval of +/-$0.88 (+/-3.49%) 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 6.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.40 (0.40%) than the support at $25.20 (0.40%), 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 Espey Manufacturing & Electronics Corp stock A Buy?
Espey Manufacturing & Electronics Corp 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: 0.705 Hold/Accumulate Downgraded
Predicted Opening Price for Espey Manufacturing & Electronics Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $25.37 ( 0.290%) | $25.30 |
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 | 26.05 | 2.98 % | |
| R2 | 25.79 | 1.95 % | ||
| R1 | 25.63 | 1.32 % | ||
| Current price: | 25.30 | |||
| Support | S1 | 25.11 | -0.737 % | |
| S2 | 24.95 | -1.37 % | ||
| S3 | 24.69 | -2.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.90 | 6.32 % | |
| R2 | 25.56 | 1.03 % | ||
| R1 | 25.40 | 0.395 % | ||
| Current price | 25.30 | |||
| Support | S1 | 25.20 | -0.395% | |
| S2 | 25.10 | -0.791% | ||
| S3 | 25.00 | -1.19% |
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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