ENIC Stock Forecast
ENIC stock price up 0.690% on Thursday
(Updated on Apr 18, 2024)
The ENIC stock price gained 0.690% on the last trading day (Thursday, 18th Apr 2024), rising from $2.90 to $2.92. During the last trading day the stock fluctuated 4.18% from a day low at $2.87 to a day high of $2.99. The price has risen in 6 of the last 10 days but is still down by -5.19% for this period. Volume fell on the last day by -130 thousand shares and in total, 170 thousand shares were bought and sold for approximately $495.31 thousand. 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 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 5.18% during the next 3 months and, with a 90% probability hold a price between $2.97 and $3.33 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ENIC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.55%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ENIC 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 $2.94 and $2.97. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for ENIC stock
ENIC finds support from accumulated volume at $2.91 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 $0.120 between high and low, or 4.18%. For the last week the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: $2.79 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ENIC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect ENIC to open at $2.93, and during the day (based on 14 day Average True Range), to move between $2.83 and $3.01, which gives a possible trading interval of +/-$0.0927 (+/-3.17%) up or down from last closing price. If ENIC takes out the full calculated possible swing range there will be an estimated 6.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.91 (0.34%) than the resistance at $2.94 (0.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.288 Hold/Accumulate Unchanged
Predicted Opening Price for ENIC of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $2.93 ( 0.228%) | $2.92 |
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 | 3.05 | 4.34 % | |
| R2 | 3.00 | 2.77 % | ||
| R1 | 2.97 | 1.80 % | ||
| Current price: | 2.92 | |||
| Support | S1 | 2.88 | -1.34 % | |
| S2 | 2.85 | -2.31 % | ||
| S3 | 2.81 | -3.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 2.40 % | |
| R2 | 2.97 | 1.71 % | ||
| R1 | 2.94 | 0.685 % | ||
| Current price | 2.92 | |||
| Support | S1 | 2.91 | -0.342% | |
| S2 | 2.89 | -1.03% | ||
| S3 | 2.85 | -2.40% |
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
Click here for our free guide on how to buy ENIC Stock.
