ENIC Stock Forecast
Evaluation of ENIC stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The ENIC stock price fell by -0.330% on the last day (Tuesday, 23rd Apr 2024) from $3.03 to $3.02. During the last trading day the stock fluctuated 1.66% from a day low at $3.01 to a day high of $3.06. The price has fallen in 5 of the last 10 days and is down by -4.13% 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 -196 thousand shares and in total, 224 thousand shares were bought and sold for approximately $677.53 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.99% during the next 3 months and, with a 90% probability hold a price between $2.95 and $3.34 at the end of this 3-month period.
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ENIC Signals & Forecast
The ENIC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.93 and $2.97. A breakdown below any of these levels will issue sell signals. 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 Monday, April 22, 2024, and so far it has fallen -0.330%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for ENIC stock
ENIC finds support from accumulated volume at $2.97 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 1.66%. For the last week the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENIC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ENIC to open at $3.03, and during the day (based on 14 day Average True Range), to move between $2.93 and $3.11, which gives a possible trading interval of +/-$0.0884 (+/-2.93%) up or down from last closing price. If ENIC takes out the full calculated possible swing range there will be an estimated 5.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.03 (0.33%) than the support at $2.97 (1.66%), 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.
Earnings coming up
ENIC will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for ENIC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.74% in the first trading day after earnings release.
Is ENIC stock A Buy?
ENIC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.374 Sell Candidate Downgraded
Predicted Opening Price for ENIC of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.03 ( 0.331%) | $3.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENIC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.08 | 1.99 % | |
| R2 | 3.06 | 1.35 % | ||
| R1 | 3.05 | 0.96 % | ||
| Current price: | 3.02 | |||
| Support | S1 | 3.01 | -0.301 % | |
| S2 | 3.00 | -0.692 % | ||
| S3 | 2.98 | -1.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.12 | 3.31 % | |
| R2 | 3.05 | 0.99 % | ||
| R1 | 3.03 | 0.331 % | ||
| Current price | 3.02 | |||
| Support | S1 | 2.97 | -1.66% | |
| S2 | 2.94 | -2.65% | ||
| S3 | 2.89 | -4.30% |
ENIC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 28, 2023 | Jan 18, 2024 | Jan 18, 2024 | $0.0344 | 1.23% |
| 2 | May 04, 2023 | May 18, 2023 | Jun 08, 2023 | $0.318 | 10.00% |
| 3 | Dec 02, 2022 | Jan 19, 2023 | Feb 09, 2023 | $0.0180 | 0.83% |
| 4 | May 19, 2021 | May 20, 2021 | May 20, 2021 | $0.219 | 7.37% |
| 5 | May 19, 2020 | May 19, 2020 | May 21, 2020 | $0.226 | 5.89% |
FAQ
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