Eagle Materials Inc Stock Forecast
Eagle Materials Inc stock upgraded to Strong Buy Candidate.
(Updated on Mar 28, 2024)
The Eagle Materials Inc stock price gained 0.97% on the last trading day (Thursday, 28th Mar 2024), rising from $269.13 to $271.75. During the last trading day the stock fluctuated 1.73% from a day low at $267.67 to a day high of $272.31. The price has risen in 8 of the last 10 days and is up by 8.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 279 thousand shares were bought and sold for approximately $75.75 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 36.00% during the next 3 months and, with a 90% probability hold a price between $354.60 and $389.08 at the end of this 3-month period.
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EXP Signals & Forecast
Mostly positive signals in the chart today. The Eagle Materials Inc 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 $267.56 and $253.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 8.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Eagle Materials Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $250.36 and $228.86. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Eagle Materials Inc finds support just below today's level at $250.36. If this is broken, then the next support from accumulated volume will be at $228.86 and $224.38.
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 $4.64 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $261.79 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (EXP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Eagle Materials Inc to open at $270.58, and during the day (based on 14 day Average True Range), to move between $266.86 and $276.64, which gives a possible trading interval of +/-$4.89 (+/-1.80%) up or down from last closing price. If Eagle Materials Inc takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $250.36, some $21.39 (7.87%) from the current price of $271.75, our system finds the risk reward attractive.
Is Eagle Materials Inc stock A Buy?
Eagle Materials Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.033 Strong Buy Candidate Upgraded
Predicted Opening Price for Eagle Materials Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$270.58 ( 0.432%) | $271.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 275.22 | 1.28 % | |
R2 | 273.44 | 0.623 % | ||
R1 | 272.35 | 0.220 % | ||
Current price: | 271.75 | |||
Support | S1 | 268.80 | -1.08 % | |
S2 | 267.71 | -1.49 % | ||
S3 | 265.94 | -2.14 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 271.75 | |||
Support | S1 | 250.36 | -7.87% | |
S2 | 228.86 | -15.78% | ||
S3 | 224.38 | -17.43% |
EXP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Apr 12, 2024 | $0.250 | 0.0920% |
2 | Nov 06, 2023 | Dec 14, 2023 | Jan 12, 2024 | $0.250 | 0.123% |
3 | Aug 08, 2023 | Sep 14, 2023 | Oct 16, 2023 | $0.250 | 0.150% |
4 | May 22, 2023 | Jun 15, 2023 | Jul 14, 2023 | $0.250 | 0.133% |
5 | Feb 07, 2023 | Mar 16, 2023 | Apr 14, 2023 | $0.250 | 0.174% |
FAQ
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