ePlus inc. Stock Forecast
Weaker technical forecast for ePlus inc. as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The ePlus inc. stock price fell by -1.35% on the last day (Wednesday, 24th Apr 2024) from $80.11 to $79.03. During the last trading day the stock fluctuated 2.51% from a day low at $78.76 to a day high of $80.74. The price has fallen in 6 of the last 10 days but is still up by 3.51% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -63 thousand shares and in total, 131 thousand shares were bought and sold for approximately $10.35 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ePlus inc. stock with a 90% probability to be traded between $68.23 and $83.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PLUS Signals & Forecast
The ePlus inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $77.05 and $77.84. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -4.63%. Further fall is indicated until a new bottom pivot has been found. 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 ePlus inc. stock
ePlus inc. finds support from accumulated volume at $77.93 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 $1.98 between high and low, or 2.51%. For the last week the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLUS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ePlus inc. to open at $79.51, and during the day (based on 14 day Average True Range), to move between $76.93 and $81.13, which gives a possible trading interval of +/-$2.10 (+/-2.66%) up or down from last closing price. If ePlus inc. takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.72 (0.87%) than the support at $77.93 (1.39%), 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 ePlus inc. stock A Buy?
ePlus 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.221 Sell Candidate Downgraded
Predicted Opening Price for ePlus inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $79.51 ( 0.607%) | $79.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLUS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.49 | 3.11 % | |
| R2 | 80.73 | 2.16 % | ||
| R1 | 80.27 | 1.56 % | ||
| Current price: | 79.03 | |||
| Support | S1 | 78.75 | -0.350 % | |
| S2 | 78.29 | -0.94 % | ||
| S3 | 77.53 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.39 | 4.25 % | |
| R2 | 80.22 | 1.51 % | ||
| R1 | 79.72 | 0.87 % | ||
| Current price | 79.03 | |||
| Support | S1 | 77.93 | -1.39% | |
| S2 | 76.93 | -2.66% | ||
| S3 | 68.07 | -13.87% |
PLUS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 04, 2012 | Dec 13, 2012 | Dec 26, 2012 | $0.625 | 6.19% |
FAQ
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