Eagle Materials Inc Stock Forecast

Red day on Wednesday for Eagle Materials Inc stock after losing 0.126%
(Updated on Apr 24, 2024)

EXP Signals & Forecast

There are mixed signals in the stock today. The Eagle Materials 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 $257.10. On a fall, the stock will find some support from the short-term average at $246.53. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -6.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Eagle Materials Inc stock

Eagle Materials Inc finds support from accumulated volume at $250.36 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 $7.00 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 3.14%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EXP) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Eagle Materials Inc to open at $253.31, and during the day (based on 14 day Average True Range), to move between $246.58 and $259.68, which gives a possible trading interval of +/-$6.55 (+/-2.59%) up or down from last closing price. If Eagle Materials Inc takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $253.45 (0.13%) than the support at $250.36 (1.09%), 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 Eagle Materials Inc stock A Buy?

Eagle Materials 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.

Current score: -2.400 Sell Candidate Unchanged

Predicted Opening Price for Eagle Materials Inc of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.