El Paso Electric Company Stock Analysis
Technical stock analysis for 22 January 2019
|Shorts||1.30% ( 2018-12-31 )|
El Paso Electric Company gained 2.18% in the last trading day, rising from $50.88 to $51.99 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days and is up by 5.74% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 225 247 more shares were traded than the day before. In total, 606 990 shares bought and sold for approximately $31.56 million.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the EE stock was $51.99. This is 2.18% more than the trading day before Friday, 18th Jan 2019.
During day the stock fluctuated 3.59% from a day low at $50.40 to a day high of $52.21.
30 day high of the EE stock price was $52.21 and low was $47.99.
90 day high was $60.22 and low was $47.99.
52 week high for the El Paso Electric Company - $64.35 and low - $47.99.
El Paso Electric Company has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $51.44, a level that may pose a second chance to hit a runner. According to fan-theory $57.19 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. El Paso Electric Company holds buy signals from both short- and long-term moving averages, 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 $49.90 and $51.80. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 59 and the stock is currently not being overbought or oversold
Support & Resistance
El Paso Electric Company finds support from accumulated volume at $50.88.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.81 (3.59%) between high and low. For the last week, the stock has had a daily average volatility of 2.39%.
Since the El Paso Electric Company has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $49.86 (-4.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
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Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
|EE $51.99 $1.11(2.18%)|
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