Eagle Materials Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Eagle Materials Inc stock price up 3.57% on Tuesday
(Updated on Apr 23, 2024)
The Eagle Materials Inc stock price gained 3.57% on the last trading day (Tuesday, 23rd Apr 2024), rising from $244.90 to $253.64. During the last trading day the stock fluctuated 3.34% from a day low at $245.60 to a day high of $253.81. The price has fallen in 7 of the last 10 days and is down by -2.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 332 thousand shares were bought and sold for approximately $84.24 million.
The stock lies in the middle of a wide and 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 12.53% during the next 3 months and, with a 90% probability hold a price between $268.55 and $315.45 at the end of this 3-month period.
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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 $257.16. On a fall, the stock will find some support from the short-term average at $246.10. 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 -6.66%. 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 is rising along with the price. This is considered to be a good technical signal.
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 $8.21 between high and low, or 3.34%. For the last week, the stock has had daily average volatility of 3.13%.
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 Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Eagle Materials Inc to open at $251.02, and during the day (based on 14 day Average True Range), to move between $247.12 and $260.16, which gives a possible trading interval of +/-$6.52 (+/-2.57%) up or down from last closing price. If Eagle Materials Inc takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $250.36 (1.29%) than the resistance at $261.52 (3.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -1.946 Sell Candidate Unchanged
Predicted Opening Price for Eagle Materials Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $251.02 ( 1.03%) | $253.64 |
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 | 259.23 | 2.20 % | |
| R2 | 256.09 | 0.97 % | ||
| R1 | 254.15 | 0.202 % | ||
| Current price: | 253.64 | |||
| Support | S1 | 247.88 | -2.27 % | |
| S2 | 245.94 | -3.03 % | ||
| S3 | 242.81 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 270.07 | 6.48 % | |
| R2 | 264.02 | 4.09 % | ||
| R1 | 261.52 | 3.11 % | ||
| Current price | 253.64 | |||
| Support | S1 | 250.36 | -1.29% | |
| S2 | 228.86 | -9.77% | ||
| S3 | 224.38 | -11.54% |
EXP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 12, 2024 | $0.250 | 0.0981% |
| 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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