ESSA Bancorp Stock Forecast
Big movements in ESSA Bancorp stock price on Thursday moving 10.50% between high and low
(Updated on Apr 25, 2024)
The ESSA Bancorp stock price fell by -3.41% on the last day (Thursday, 25th Apr 2024) from $16.85 to $16.28. During the last trading day the stock fluctuated 10.50% from a day low at $15.29 to a day high of $16.90. The price has been going up and down for this period, and there has been a -1.78% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 12 thousand shares were bought and sold for approximately $200.48 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.89 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.19% during the next 3 months and, with a 90% probability hold a price between $14.11 and $16.05 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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ESSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.72%. 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 ESSA Bancorp 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 $16.52 and $17.26. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for ESSA Bancorp stock
ESSA Bancorp finds support from accumulated volume at $16.08 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 $1.61 between high and low, or 10.50%. For the last week the stock has had daily average volatility of 5.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESSA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ESSA Bancorp to open at $16.16, and during the day (based on 14 day Average True Range), to move between $15.58 and $16.97, which gives a possible trading interval of +/-$0.691 (+/-4.24%) up or down from last closing price. If ESSA Bancorp takes out the full calculated possible swing range there will be an estimated 8.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.08 (1.23%) than the resistance at $17.21 (5.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ESSA Bancorp stock A Buy?
ESSA Bancorp holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.433 Sell Candidate Downgraded
Predicted Opening Price for ESSA Bancorp of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$16.16 ( 0.729%) | $16.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESSA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.76 | 9.14 % | |
R2 | 17.15 | 5.37 % | ||
R1 | 16.77 | 3.04 % | ||
Current price: | 16.28 | |||
Support | S1 | 15.54 | -4.50 % | |
S2 | 15.16 | -6.83 % | ||
S3 | 14.55 | -10.60 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.44 | 13.30 % | |
R2 | 17.33 | 6.48 % | ||
R1 | 17.21 | 5.75 % | ||
Current price | 16.28 | |||
Support | S1 | 16.08 | -1.23% | |
S2 | 16.00 | -1.69% | ||
S3 | 0 | . |
ESSA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 27, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.150 | 0.82% |
2 | Nov 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.150 | 0.749% |
3 | Aug 23, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.150 | 1.00% |
4 | May 23, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.150 | 1.00% |
5 | Feb 28, 2023 | Mar 15, 2023 | Mar 31, 2023 | $0.150 | 0.95% |
FAQ
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