Ellomay Capital Ltd Stock Forecast
Ellomay Capital Ltd stock price up 1.91% on Monday
(Updated on Apr 22, 2024)
The Ellomay Capital Ltd stock price gained 1.91% on the last trading day (Monday, 22nd Apr 2024), rising from $14.92 to $15.21. During the last trading day the stock fluctuated 4.00% from a day low at $15.00 to a day high of $15.60. The price has been going up and down for this period, and there has been a -6.55% 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, 14 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $217.66 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $14.49 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ellomay Capital Ltd stock with a 90% probability to be traded between $14.24 and $18.48 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ELLO Signals & Forecast
There are mixed signals in the stock today. The Ellomay Capital Ltd 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 $15.25 and $16.21. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.79%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ellomay Capital Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Ellomay Capital Ltd stock
Ellomay Capital Ltd finds support from accumulated volume at $15.14 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 $0.600 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: $14.52 (-4.53%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ELLO) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Ellomay Capital Ltd to open at $15.27, and during the day (based on 14 day Average True Range), to move between $14.59 and $15.82, which gives a possible trading interval of +/-$0.614 (+/-4.04%) up or down from last closing price. If Ellomay Capital Ltd takes out the full calculated possible swing range there will be an estimated 8.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.14 (0.43%) than the resistance at $16.20 (6.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ellomay Capital Ltd stock A Buy?
Ellomay Capital Ltd 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ellomay Capital Ltd of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $15.27 ( 0.417%) | $15.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.87 | 4.36 % | |
| R2 | 15.64 | 2.86 % | ||
| R1 | 15.50 | 1.92 % | ||
| Current price: | 15.21 | |||
| Support | S1 | 15.04 | -1.09 % | |
| S2 | 14.90 | -2.02 % | ||
| S3 | 14.67 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.86 | 17.46 % | |
| R2 | 17.00 | 11.81 % | ||
| R1 | 16.20 | 6.54 % | ||
| Current price | 15.21 | |||
| Support | S1 | 15.14 | -0.427% | |
| S2 | 14.92 | -1.87% | ||
| S3 | 14.51 | -4.57% |
ELLO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 23, 2016 | Apr 04, 2016 | Apr 20, 2016 | $0.225 | 2.69% |
FAQ
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