Emerson Electric Company Stock Forecast
Evaluation of Emerson Electric Company stock downgraded after the last trading session.
(Updated on Mar 27, 2024)
The Emerson Electric Company stock price gained 1.34% on the last trading day (Wednesday, 27th Mar 2024), rising from $111.95 to $113.45. During the last trading day the stock fluctuated 1.62% from a day low at $111.65 to a day high of $113.46. The price has risen in 8 of the last 10 days and is up by 2.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 568 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $218.99 million.
The stock lies in the upper part of a strong rising 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 $115.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 24.05% during the next 3 months and, with a 90% probability hold a price between $131.48 and $142.74 at the end of this 3-month period.
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EMR Signals & Forecast
The Emerson Electric Company 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 $112.21 and $108.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 31, 2024, and so far it has risen 23.68%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Emerson Electric Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $106.24 and $104.09. 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, Emerson Electric Company finds support just below today's level at $106.24. If this is broken, then the next support from accumulated volume will be at $104.09 and $102.38.
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 $1.81 between high and low, or 1.62%. For the last week the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: $109.46 (-3.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (EMR) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Emerson Electric Company to open at $112.85, and during the day (based on 14 day Average True Range), to move between $111.98 and $114.92, which gives a possible trading interval of +/-$1.47 (+/-1.30%) up or down from last closing price. If Emerson Electric Company takes out the full calculated possible swing range there will be an estimated 2.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $106.24, some $7.21 (6.36%) from the current price of $113.45, our system finds the risk reward attractive.
Is Emerson Electric Company stock A Buy?
Emerson Electric Company 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Emerson Electric Company of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$112.85 ( 0.526%) | $113.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 114.66 | 1.07 % | |
R2 | 113.97 | 0.460 % | ||
R1 | 113.54 | 0.0835 % | ||
Current price: | 113.45 | |||
Support | S1 | 112.16 | -1.14 % | |
S2 | 111.73 | -1.51 % | ||
S3 | 111.04 | -2.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 113.45 | |||
Support | S1 | 106.24 | -6.36% | |
S2 | 104.09 | -8.25% | ||
S3 | 102.38 | -9.76% |
EMR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 07, 2024 | Feb 15, 2024 | Mar 11, 2024 | $0.525 | 0.479% |
2 | Nov 07, 2023 | Nov 16, 2023 | Dec 11, 2023 | $0.525 | 0.585% |
3 | Aug 02, 2023 | Aug 10, 2023 | Sep 11, 2023 | $0.520 | 0.519% |
4 | May 03, 2023 | May 11, 2023 | Jun 09, 2023 | $0.520 | 0.618% |
5 | Feb 08, 2023 | Feb 16, 2023 | Mar 10, 2023 | $0.520 | 0.633% |
FAQ
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