E. Schnapp & Co. Works Ltd Stock Forecast
Evaluation of E. Schnapp & Co. Works Ltd stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The E. Schnapp & Co. Works Ltd stock price gained 0.766% on the last trading day (Thursday, 27th Jun 2024), rising from ₪1,305.00 to ₪1,315.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.766% from a day low at ₪1,305.00 to a day high of ₪1,315.00. The price has risen in 7 of the last 10 days and is up by 7.26% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 more shares were traded than the day before. In total, 150 shares were bought and sold for approximately ₪197.25 thousand.
The stock lies in the middle of a wide and weak 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 4.44% during the next 3 months and, with a 90% probability hold a price between ₪1,256.23 and ₪1,433.33 at the end of this 3-month period.
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SHNP.TA Signals & Forecast
Mostly positive signals in the chart today. The E. Schnapp & Co. Works Ltd 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 ₪1,297.43 and ₪1,281.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, June 09, 2024, and so far it has risen 7.43%. 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). E. Schnapp & Co. Works Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for E. Schnapp & Co. Works Ltd stock
E. Schnapp & Co. Works Ltd finds support from accumulated volume at ₪1,266.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₪10.00 (0.766%) between high and low. For the last week, the stock has had daily average volatility of 2.11%.
Our recommended stop-loss: ₪1,251.02 (-4.87%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (SHNP.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect E. Schnapp & Co. Works Ltd to open at ₪1,311.67, and during the day (based on 14 day Average True Range), to move between ₪1,280.20 and ₪1,349.80, which gives a possible trading interval of +/-₪34.80 (+/-2.65%) up or down from last closing price. If E. Schnapp & Co. Works Ltd takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪1,316.00 (0.08%) than the support at ₪1,266.00 (3.73%), 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 E. Schnapp & Co. Works Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for E. Schnapp & Co. Works Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.737 Buy Candidate Downgraded
Predicted Opening Price for E. Schnapp & Co. Works Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₪1,311.67 ( 0.253%) | ₪1,315.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHNP.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,321.67 | 0.507% |
| R2 | 1,317.85 | 0.216% |
| R1 | 1,315.49 | 0.0370% |
| Price | 1,315.00 | |
| S1 | 1,307.85 | -0.544% |
| S2 | 1,305.49 | -0.723% |
| S3 | 1,301.67 | -1.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,340.00 | 1.90% |
| R2 | 1,331.00 | 1.22% |
| R1 | 1,316.00 | 0.0760% |
| Price | 1,315.00 | |
| S1 | 1,266.00 | -3.73% |
| S2 | 1,241.00 | -5.63% |
| S3 | 1,202.00 | -8.59% |
SHNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 06, 2024 | ₪23.63 | 1.92% |
| 2 | Apr 01, 2024 | Apr 01, 2024 | Apr 08, 2024 | ₪39.39 | 3.12% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Dec 07, 2023 | ₪15.75 | 1.47% |
| 4 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | ₪15.75 | 1.64% |
| 5 | Jun 04, 2023 | Jun 04, 2023 | Jun 04, 2023 | ₪7.88 | 0.732% |
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