Icahn Enterprises Stock Forecast
Icahn Enterprises stock price down 1.36% on Wednesday
(Updated on May 01, 2024)
The Icahn Enterprises stock price fell by -1.36% on the last day (Wednesday, 1st May 2024) from $17.64 to $17.40. During the last trading day the stock fluctuated 3.00% from a day low at $17.32 to a day high of $17.84. The price has risen in 6 of the last 10 days and is up by 2.29% over the past 2 weeks. Volume has increased on the last day by 387 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 700 thousand shares were bought and sold for approximately $12.19 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.02% during the next 3 months and, with a 90% probability hold a price between $13.84 and $15.99 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IEP Signals & Forecast
The Icahn Enterprises 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 $17.34 and $17.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 4.38%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Icahn Enterprises stock
Icahn Enterprises finds support from accumulated volume at $17.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.520 between high and low, or 3.00%. For the last week the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: $16.72 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (IEP) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Icahn Enterprises L.P. to open at $17.52, and during the day (based on 14 day Average True Range), to move between $16.98 and $17.82, which gives a possible trading interval of +/-$0.421 (+/-2.42%) up or down from last closing price. If Icahn Enterprises L.P. takes out the full calculated possible swing range there will be an estimated 4.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.16 (1.38%) than the resistance at $18.09 (3.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Icahn Enterprises will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.250. We will update the financials statements for Icahn Enterprises, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.80% in the first trading day after earnings release.
Is Icahn Enterprises L.P. stock A Buy?
Icahn Enterprises holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.362 Hold/Accumulate Unchanged
Predicted Opening Price for Icahn Enterprises L.P. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $17.52 ( 0.690%) | $17.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.04 | 3.68 % | |
| R2 | 17.84 | 2.54 % | ||
| R1 | 17.72 | 1.83 % | ||
| Current price: | 17.40 | |||
| Support | S1 | 17.32 | -0.452 % | |
| S2 | 17.20 | -1.16 % | ||
| S3 | 17.00 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.67 | 13.05 % | |
| R2 | 19.52 | 12.18 % | ||
| R1 | 18.09 | 3.97 % | ||
| Current price | 17.40 | |||
| Support | S1 | 17.16 | -1.38% | |
| S2 | 17.02 | -2.18% | ||
| S3 | 17.00 | -2.30% |
IEP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Mar 08, 2024 | Apr 18, 2024 | $1.00 | 5.92% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | $0 | 0% |
| 3 | Aug 02, 2023 | Aug 17, 2023 | Sep 27, 2023 | $1.00 | 5.07% |
| 4 | May 09, 2023 | May 19, 2023 | Jun 30, 2023 | $2.00 | 6.89% |
| 5 | Feb 22, 2023 | Mar 10, 2023 | Apr 19, 2023 | $2.00 | 3.85% |
FAQ
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