Ethan Allen Interiors Inc. Stock Forecast
Ethan Allen Interiors Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Ethan Allen Interiors Inc. stock price gained 1.79% on the last trading day (Friday, 19th Apr 2024), rising from $31.26 to $31.82. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.51% from a day low at $31.11 to a day high of $31.89. The price has fallen in 6 of the last 10 days and is down by -3.78% for this period. Volume fell on the last day by -38 thousand shares and in total, 112 thousand shares were bought and sold for approximately $3.55 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 lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $31.07 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.25% during the next 3 months and, with a 90% probability hold a price between $33.95 and $38.56 at the end of this 3-month period.
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ETD Signals & Forecast
There are mixed signals in the stock today. The Ethan Allen Interiors Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $32.73. On a fall, the stock will find some support from the short-term average at $31.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.88%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Ethan Allen Interiors Inc. stock
Ethan Allen Interiors Inc. finds support from accumulated volume at $30.40 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.780 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ETD) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ethan Allen Interiors Inc. to open at $31.61, and during the day (based on 14 day Average True Range), to move between $31.06 and $32.58, which gives a possible trading interval of +/-$0.758 (+/-2.38%) up or down from last closing price. If Ethan Allen Interiors Inc. takes out the full calculated possible swing range there will be an estimated 4.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.07 (3.93%) than the support at $30.40 (4.46%), 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.
Earnings coming up
Ethan Allen Interiors Inc. will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.660. We will update the financials statements for Ethan Allen Interiors Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.48% in the first trading day after earnings release.
Is Ethan Allen Interiors Inc. stock A Buy?
Ethan Allen Interiors Inc. holds several negative signals and we believe that 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: -1.807 Sell Candidate Downgraded
Predicted Opening Price for Ethan Allen Interiors Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $31.61 ( 0.670%) | $31.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.39 | 1.78 % | |
| R2 | 32.09 | 0.84 % | ||
| R1 | 31.90 | 0.266 % | ||
| Current price: | 31.82 | |||
| Support | S1 | 31.31 | -1.61 % | |
| S2 | 31.12 | -2.19 % | ||
| S3 | 30.83 | -3.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.57 | 8.64 % | |
| R2 | 33.43 | 5.06 % | ||
| R1 | 33.07 | 3.93 % | ||
| Current price | 31.82 | |||
| Support | S1 | 30.40 | -4.46% | |
| S2 | 29.88 | -6.10% | ||
| S3 | 29.75 | -6.51% |
ETD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Feb 05, 2024 | Feb 22, 2024 | $0.360 | 1.15% |
| 2 | Oct 24, 2023 | Nov 06, 2023 | Nov 22, 2023 | $0.360 | 1.31% |
| 3 | Aug 01, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.500 | 1.59% |
| 4 | Apr 25, 2023 | May 08, 2023 | May 25, 2023 | $0.360 | 1.37% |
| 5 | Jan 24, 2023 | Feb 06, 2023 | Feb 21, 2023 | $0.320 | 1.12% |
FAQ
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