ePlus inc. Stock Forecast

PLUS Signals & Forecast

Mostly positive signals in the chart today. The ePlus 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 $66.59 and $63.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, November 08, 2023, and so far it has risen 18.53%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, October 05, 2023 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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Support, Risk & Stop-loss for ePlus inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $64.64 and $62.46. 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, ePlus inc. finds support just below today's level at $64.64. If this is broken, then the next support from accumulated volume will be at $62.46 and $58.43.

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 $2.04 between high and low, or 3.01%. For the last week, the stock has had daily average volatility of 2.00%.

The ePlus inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the ePlus inc. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $66.26 (-4.33%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (PLUS) For The Upcoming Trading Day Of Monday 11th

For the upcoming trading day on Monday, 11th we expect ePlus inc. to open at $68.95, and during the day (based on 14 day Average True Range), to move between $67.57 and $70.95, which gives a possible trading interval of +/-$1.69 (+/-2.44%) up or down from last closing price. If ePlus inc. takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $64.64, some $4.62 (6.67%) from the current price of $69.26, our system finds the risk reward attractive.

Is ePlus inc. stock A Buy?

ePlus inc. holds several positive signals and is considered to be a good choice at current levels. We expect the ePlus inc. stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.321 Open Broker Account

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