Erste Group Bk ADR Stock Forecast
Evaluation of Erste Group Bk ADR stock downgraded after the last trading session.
(Updated on Mar 27, 2024)
The Erste Group Bk ADR stock price gained 2.30% on the last trading day (Wednesday, 27th Mar 2024), rising from $21.76 to $22.26. During the last trading day the stock fluctuated 1.23% from a day low at $22.02 to a day high of $22.29. The price has risen in 6 of the last 10 days and is up by 7.54% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 23 thousand shares were bought and sold for approximately $509.84 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $22.17 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $24.26 sometime during the next 3 months.
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EBKDY Signals & Forecast
The Erste Group Bk ADR 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 $21.81 and $21.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 11.52%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Erste Group Bk ADR stock
On the downside, the stock finds support just below today's level from accumulated volume at $21.04 and $20.71. 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, Erste Group Bk ADR finds support just below today's level at $21.04. If this is broken, then the next support from accumulated volume will be at $20.71 and $20.70.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.270 between high and low, or 1.23%. For the last week the stock has had daily average volatility of 1.07%.
The Erste Group Bk ADR stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $21.21 (-4.71%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (EBKDY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Erste Group Bk ADR to open at $22.19, and during the day (based on 14 day Average True Range), to move between $21.92 and $22.60, which gives a possible trading interval of +/-$0.340 (+/-1.53%) up or down from last closing price. If Erste Group Bk ADR takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $21.04, some $1.22 (5.50%) from the current price of $22.26, our system finds the risk reward attractive.
Is Erste Group Bk ADR stock A Buy?
Erste Group Bk ADR 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Erste Group Bk ADR of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$22.19 ( 0.314%) | $22.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBKDY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.46 | 0.90 % | |
R2 | 22.36 | 0.435 % | ||
R1 | 22.29 | 0.149 % | ||
Current price: | 22.26 | |||
Support | S1 | 22.09 | -0.778 % | |
S2 | 22.02 | -1.06 % | ||
S3 | 21.92 | -1.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 22.26 | |||
Support | S1 | 21.04 | -5.50% | |
S2 | 20.71 | -6.97% | ||
S3 | 20.70 | -7.01% |
EBKDY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 13, 2023 | May 16, 2023 | May 30, 2023 | $1.04 | 6.51% |
2 | May 23, 2022 | May 23, 2022 | Jun 06, 2022 | $0.84 | 5.24% |
3 | Nov 30, 2021 | Nov 30, 2021 | Nov 30, 2021 | $0.567 | 2.59% |
4 | May 10, 2021 | May 25, 2021 | Jun 07, 2021 | $0.303 | 1.42% |
5 | Feb 11, 2021 | Feb 11, 2021 | Feb 11, 2021 | $0.454 | 2.83% |
FAQ
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