Envirostar Inc Stock Forecast
A very strong day for Envirostar Inc stock price on Wednesday
(Updated on May 01, 2024)
The Envirostar Inc stock price gained 5.60% on the last trading day (Wednesday, 1st May 2024), rising from $20.52 to $21.67. During the last trading day the stock fluctuated 2.89% from a day low at $21.29 to a day high of $21.91. The price has been going up and down for this period, and there has been a 2.02% gain for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 7 thousand shares were bought and sold for approximately $153.23 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Envirostar Inc stock with a 90% probability to be traded between $20.32 and $25.99 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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EVI Signals & Forecast
There are mixed signals in the stock today. The Envirostar 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 $22.73. On a fall, the stock will find some support from the short-term average at $21.01. 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). 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. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 8.24%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Envirostar Inc stock
Envirostar Inc finds support from accumulated volume at $21.26 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 $0.614 between high and low, or 2.89%. For the last week the stock has had daily average volatility of 4.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EVI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Envirostar Inc to open at $21.62, and during the day (based on 14 day Average True Range), to move between $20.52 and $22.82, which gives a possible trading interval of +/-$1.15 (+/-5.30%) up or down from last closing price. If Envirostar Inc takes out the full calculated possible swing range there will be an estimated 10.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.08 (1.89%) than the support at $21.26 (1.89%), 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
Envirostar Inc will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Envirostar Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.49% in the first trading day after earnings release.
Is Envirostar Inc stock A Buy?
Envirostar 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.282 Sell Candidate Upgraded
Predicted Opening Price for Envirostar Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $21.62 ( 0.222%) | $21.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.24 | 2.61 % | |
| R2 | 22.00 | 1.53 % | ||
| R1 | 21.86 | 0.86 % | ||
| Current price: | 21.67 | |||
| Support | S1 | 21.39 | -1.31 % | |
| S2 | 21.24 | -1.97 % | ||
| S3 | 21.01 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.10 | 11.21 % | |
| R2 | 24.01 | 10.80 % | ||
| R1 | 22.08 | 1.89 % | ||
| Current price | 21.67 | |||
| Support | S1 | 21.26 | -1.89% | |
| S2 | 21.18 | -2.26% | ||
| S3 | 21.01 | -3.05% |
EVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 04, 2023 | Oct 13, 2023 | Oct 26, 2023 | $0.280 | 1.12% |
| 2 | Dec 11, 2018 | Dec 24, 2018 | Jan 08, 2019 | $0.130 | 0.369% |
| 3 | Dec 12, 2017 | Dec 22, 2017 | Jan 09, 2018 | $0.120 | 0.319% |
| 4 | Nov 30, 2016 | Dec 19, 2016 | Jan 06, 2017 | $0.100 | 0.692% |
| 5 | Nov 13, 2015 | Dec 02, 2015 | Dec 18, 2015 | $0.200 | 5.71% |
FAQ
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