Empresa Distribuidora Y Comercializadora Stock Forecast

Empresa Distribuidora Y Comercializadora stock price up 0.311% on Friday
(Updated on Apr 19, 2024)

EDN Signals & Forecast

There are few to no technical positive signals at the moment. The Empresa Distribuidora Y Comercializadora stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.76 and $17.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -17.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Empresa Distribuidora Y Comercializadora stock

Empresa Distribuidora Y Comercializadora finds support from accumulated volume at $15.68 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.672 between high and low, or 4.21%. For the last week the stock has had daily average volatility of 7.24%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EDN) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Empresa Distribuidora Y Comercializadora Norte SA (Edenor) to open at $16.24, and during the day (based on 14 day Average True Range), to move between $15.04 and $17.24, which gives a possible trading interval of +/-$1.10 (+/-6.79%) up or down from last closing price. If Empresa Distribuidora Y Comercializadora Norte SA (Edenor) takes out the full calculated possible swing range there will be an estimated 13.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.68 (2.85%) than the resistance at $16.85 (4.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Empresa Distribuidora Y Comercializadora Norte SA (Edenor) stock A Buy?

Empresa Distribuidora Y Comercializadora holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -5.605 Strong Sell Candidate Unchanged

Predicted Opening Price for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.