Eclipse Resources Corp Stock Forecast
High volatility in Eclipse Resources Corp stock price on Wednesday which ended trading at £0.325
(Updated on Apr 24, 2024)
The Eclipse Resources Corp stock price gained 8.33% on the last trading day (Wednesday, 24th Apr 2024), rising from £0.300 to £0.325. During the last trading day the stock fluctuated 14.32% from a day low at £0.297 to a day high of £0.340. The price has been going up and down for this period, and there has been a -4.41% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 million more shares were traded than the day before. In total, 24 million shares were bought and sold for approximately £7.86 million.
The stock 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 11.78% during the next 3 months and, with a 90% probability hold a price between £0.303 and £0.505 at the end of this 3-month period.
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ECR.L Signals & Forecast
The Eclipse Resources Corp 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 £0.305 and £0.314. 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). 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -24.42%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Eclipse Resources Corp stock
Eclipse Resources Corp finds support from accumulated volume at £0.320 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.0426 between high and low, or 14.32%. For the last week, the stock has had daily average volatility of 7.97%.
Our recommended stop-loss: £0.306 (-5.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (ECR.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Eclipse Resources Corp to open at £0.321, and during the day (based on 14 day Average True Range), to move between £0.299 and £0.351, which gives a possible trading interval of +/-£0.0262 (+/-8.05%) up or down from last closing price. If Eclipse Resources Corp takes out the full calculated possible swing range there will be an estimated 16.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.330 (1.54%) than the support at £0.320 (1.54%), 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 Eclipse Resources Corp 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 Eclipse Resources Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.616 Buy Candidate Upgraded
Predicted Opening Price for Eclipse Resources Corp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £0.321 ( 1.29%) | £0.325 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.363 | 11.82 % | |
| R2 | 0.347 | 6.81 % | ||
| R1 | 0.337 | 3.71 % | ||
| Current price: | 0.325 | |||
| Support | S1 | 0.305 | -6.30 % | |
| S2 | 0.294 | -9.39 % | ||
| S3 | 0.278 | -14.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.340 | 4.62 % | |
| R2 | 0.335 | 3.08 % | ||
| R1 | 0.330 | 1.54 % | ||
| Current price | 0.325 | |||
| Support | S1 | 0.320 | -1.54% | |
| S2 | 0.310 | -4.62% | ||
| S3 | 0.290 | -10.77% |
FAQ
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