EastGroup Properties Inc Stock Forecast
EastGroup Properties Inc stock price down 1.42% on Thursday
(Updated on Apr 25, 2024)
The EastGroup Properties Inc stock price fell by -1.42% on the last day (Thursday, 25th Apr 2024) from $157.99 to $155.74. During the last trading day the stock fluctuated 2.26% from a day low at $155.23 to a day high of $158.73. The price has fallen in 7 of the last 10 days and is down by -9.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -305 thousand shares and in total, 412 thousand shares were bought and sold for approximately $64.11 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($157.75) are considered to be a "second chance" to get out. According to the fan-theory $140.90 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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EGP Signals & Forecast
There are few to no technical positive signals at the moment. The EastGroup Properties Inc 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 $160.47 and $173.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -6.04%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for EastGroup Properties Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $3.51 between high and low, or 2.26%. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect EastGroup Properties Inc to open at $156.57, and during the day (based on 14 day Average True Range), to move between $151.89 and $159.59, which gives a possible trading interval of +/-$3.85 (+/-2.47%) up or down from last closing price. If EastGroup Properties Inc takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $157.99, some $2.25 (1.44%) from the current price of $155.74, our system finds the risk reward not very attractive.
Is EastGroup Properties Inc stock A Buy?
EastGroup Properties Inc holds several negative signals and is within a 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: -5.235 Strong Sell Candidate Unchanged
Predicted Opening Price for EastGroup Properties Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $156.57 ( 0.530%) | $155.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 160.07 | 2.78 % | |
| R2 | 158.73 | 1.92 % | ||
| R1 | 157.90 | 1.39 % | ||
| Current price: | 155.74 | |||
| Support | S1 | 155.23 | -0.330 % | |
| S2 | 154.40 | -0.86 % | ||
| S3 | 153.06 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 184.96 | 18.76 % | |
| R2 | 162.00 | 4.02 % | ||
| R1 | 157.99 | 1.44 % | ||
| Current price | 155.74 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
EGP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $1.27 | 0.754% |
| 2 | Dec 08, 2023 | Dec 28, 2023 | Jan 12, 2024 | $1.27 | 0.703% |
| 3 | Aug 25, 2023 | Sep 28, 2023 | Oct 13, 2023 | $1.27 | 0.768% |
| 4 | May 25, 2023 | Jun 29, 2023 | Jul 14, 2023 | $1.25 | 0.674% |
| 5 | Mar 03, 2023 | Mar 30, 2023 | Apr 14, 2023 | $1.25 | 0.786% |
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