Edison International Stock Forecast
Green day on Wednesday for Edison International
(Updated on Mar 27, 2024)
The Edison International stock price gained 1.71% on the last trading day (Wednesday, 27th Mar 2024), rising from $68.23 to $69.40. During the last trading day the stock fluctuated 2.22% from a day low at $67.95 to a day high of $69.46. The price has risen in 5 of the last 10 days but is still down by -0.36% for this period. Volume fell on the last day by -174 thousand shares and in total, 2 million shares were bought and sold for approximately $113.75 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $70.02 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.06% during the next 3 months and, with a 90% probability hold a price between $61.38 and $67.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EIX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -1.10%. 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). The Edison International 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 $69.37 and $67.73. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Edison International stock
Edison International finds support from accumulated volume at $68.29 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 $1.51 between high and low, or 2.22%. For the last week the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $66.77 (-3.79%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (EIX) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Edison International to open at $68.93, and during the day (based on 14 day Average True Range), to move between $68.19 and $70.61, which gives a possible trading interval of +/-$1.21 (+/-1.74%) up or down from last closing price. If Edison International takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $69.50 (0.14%) than the support at $68.29 (1.60%), 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 Edison International stock A Buy?
Edison International holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.043 Hold/Accumulate Unchanged
Predicted Opening Price for Edison International of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$68.93 ( 0.672%) | $69.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 70.44 | 1.50 % | |
R2 | 69.87 | 0.672 % | ||
R1 | 69.51 | 0.159 % | ||
Current price: | 69.40 | |||
Support | S1 | 68.36 | -1.50 % | |
S2 | 68.00 | -2.02 % | ||
S3 | 67.42 | -2.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 71.58 | 3.14 % | |
R2 | 70.17 | 1.11 % | ||
R1 | 69.50 | 0.144 % | ||
Current price | 69.40 | |||
Support | S1 | 68.29 | -1.60% | |
S2 | 67.04 | -3.40% | ||
S3 | 65.18 | -6.08% |
EIX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.780 | 1.12% |
2 | Dec 14, 2023 | Dec 29, 2023 | Jan 31, 2024 | $0.780 | 1.16% |
3 | Dec 14, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.780 | 1.16% |
4 | Aug 24, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.740 | 1.17% |
5 | Jun 21, 2023 | Jul 03, 2023 | Jul 31, 2023 | $0.738 | 1.03% |
FAQ
Click here for our free guide on how to buy Edison International Stock.