Emcor Group Inc Stock Forecast

Volatile ride for Emcor Group Inc stock price on Monday moving between £0.534 and £0.638
(Updated on Apr 15, 2024)

EME.L Signals & Forecast

The Emcor Group Inc 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 £0.616 and £0.613. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -13.79%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Emcor Group Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at £0.575 and £0.550. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Emcor Group Inc finds support just below today's level at £0.575. If this is broken, then the next support from accumulated volume will be at £0.550 and £0.475.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.104 between high and low, or 19.41%. For the last week, the stock has had daily average volatility of 16.20%.

Our recommended stop-loss: £0.591 (-5.38%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (EME.L) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Emcor Group Inc to open at £0.599, and during the day (based on 14 day Average True Range), to move between £0.514 and £0.736, which gives a possible trading interval of +/-£0.111 (+/-17.82%) up or down from last closing price. If Emcor Group Inc takes out the full calculated possible swing range there will be an estimated 35.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.632 (1.12%) than the support at £0.575 (8.00%), 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 Emcor Group Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Emcor Group Inc stock to perform well in the short-term.

Current score: 4.442 Buy Candidate Unchanged

Predicted Opening Price for Emcor Group Inc of Tuesday, April 16, 2024

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