Entergy New Orleans Inc. 1st Mtg Bd ETF Forecast

Entergy New Orleans Inc. 1st Mtg Bd ETF downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

ENO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.85%. 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 Entergy New Orleans Inc. 1st Mtg Bd ETF 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 $22.92 and $23.99. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Entergy New Orleans Inc. 1st Mtg Bd ETF

Entergy New Orleans Inc. 1st Mtg Bd finds support from accumulated volume at $22.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.369 between high and low, or 1.64%. For the last week the ETF has had daily average volatility of 1.46%.

Entergy New Orleans Inc. 1st Mtg Bd is oversold on RSI14 (24). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $21.24 (-6.23%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (ENO) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 to open at $22.68, and during the day (based on 14 day Average True Range), to move between $22.36 and $22.94, which gives a possible trading interval of +/-$0.288 (+/-1.27%) up or down from last closing price. If Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.50 (0.66%) than the resistance at $23.87 (5.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 ETF A Buy?

Entergy New Orleans Inc. 1st Mtg Bd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.555 Hold/Accumulate Downgraded

Predicted Opening Price for Entergy New Orleans Inc. 1st Mtg Bd 5.50% Ser 04/01/2066 of Friday, April 19, 2024

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