Centrais Elétricas Brasileiras S.A. - Eletrobras Forecast and Stock Analysis
Technical EBR stock analysis for March 18, 2019.
|Shorts||0.82% ( 2019-02-28 )|
Centrais Elétricas Brasileiras S.A. - Eletrobras gained 0.31% in the last trading day, rising from $9.58 to $9.61 , and 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. The price has risen in 6 of the last 10 days and is up by 2.02% over the past 2 weeks. Volume fell in the last day by -230 598 shares, and in total, 315 347 shares bought and sold for approximately $3.03 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the EBR stock was $9.61. This is 0.31% more than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 2.21% from a day low at $9.49 to a day high of $9.70.
30 day high of the EBR stock price was $10.89 and low was $8.54.
90 day high was $10.89 and low was $5.56.
52 week high for the Centrais Elétricas Brasileiras S.A. - Eletrobras - $10.89 and low - $3.14.
Centrais Elétricas Brasileiras S.A. - Eletrobras lies in the middle of a very wide and strong 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 38.05% during the next 3 months and, with 90% probability hold a price between $12.16 and $16.60 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday March 07, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Centrais Elétricas Brasileiras S.A. - Eletrobras holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $9.62. On a fall, the stock will find some support from the short-term average at $9.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 46 and the stock is currently not being overbought or oversold
Support & Resistance
Centrais Elétricas Brasileiras S.A. - Eletrobras finds support from accumulated volume at $9.43.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.21 between high and low, or 2.21%. For the last week, the stock has had a daily average volatility of 2.99%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Centrais Elétricas Brasileiras S.A. - Eletrobras 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 recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.