Ecolab Inc Stock Forecast
Ecolab Inc stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Ecolab Inc stock price gained 1.55% on the last trading day (Wednesday, 27th Mar 2024), rising from $228.23 to $231.76. During the last trading day the stock fluctuated 1.58% from a day low at $228.26 to a day high of $231.86. The price has risen in 7 of the last 10 days and is up by 2.92% 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, 216 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $276.99 million.
The stock lies in the lower part of a narrow and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $230.23 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.60% during the next 3 months and, with a 90% probability hold a price between $277.66 and $291.22 at the end of this 3-month period.
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ECL Signals & Forecast
The Ecolab 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 $228.73 and $221.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 16, 2024, and so far it has risen 7.61%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ecolab Inc stock
Ecolab Inc finds support from accumulated volume at $221.18 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 $3.60 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 1.13%.
Our recommended stop-loss: $221.30 (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (ECL) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Ecolab Inc to open at $230.63, and during the day (based on 14 day Average True Range), to move between $228.81 and $234.71, which gives a possible trading interval of +/-$2.95 (+/-1.27%) up or down from last closing price. If Ecolab Inc takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $221.18, some $10.58 (4.57%) from the current price of $231.76, our system finds the risk reward attractive.
Is Ecolab Inc stock A Buy?
Ecolab Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.426 Strong Buy Candidate Upgraded
Predicted Opening Price for Ecolab Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$230.63 ( 0.489%) | $231.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 234.23 | 1.06 % | |
R2 | 232.85 | 0.471 % | ||
R1 | 232.00 | 0.104 % | ||
Current price: | 231.76 | |||
Support | S1 | 229.25 | -1.08 % | |
S2 | 228.40 | -1.45 % | ||
S3 | 227.03 | -2.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 231.76 | |||
Support | S1 | 221.18 | -4.57% | |
S2 | 216.47 | -6.60% | ||
S3 | 215.38 | -7.07% |
ECL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 18, 2024 | Apr 15, 2024 | $0.570 | 0.246% |
2 | Dec 07, 2023 | Dec 19, 2023 | Jan 16, 2024 | $0.570 | 0.286% |
3 | Dec 07, 2023 | Dec 18, 2023 | Jan 16, 2024 | $0.570 | 0.286% |
4 | Aug 03, 2023 | Sep 18, 2023 | Oct 16, 2023 | $0.530 | 0.319% |
5 | May 04, 2023 | Jun 16, 2023 | Jul 17, 2023 | $0.530 | 0.283% |
FAQ
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