Enerplus Corporation Stock Forecast
Green day on Monday for Enerplus Corporation
(Updated on Mar 18, 2024)
The Enerplus Corporation stock price gained 1.86% on the last trading day (Monday, 18th Mar 2024), rising from $18.29 to $18.63. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.41% from a day low at $18.25 to a day high of $18.69. The price has risen in 7 of the last 10 days and is up by 5.61% over the past 2 weeks. Volume fell on the last day by -149 thousand shares and in total, 2 million shares were bought and sold for approximately $28.77 million. 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 strong 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 24.76% during the next 3 months and, with a 90% probability hold a price between $19.45 and $24.25 at the end of this 3-month period.
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ERF Signals & Forecast
The Enerplus Corporation 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 $18.12 and $16.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 02, 2024, and so far it has risen 36.38%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Enerplus Corporation stock
Enerplus Corporation finds support from accumulated volume at $17.91 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.440 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 1.55%.
Since the Enerplus Corporation has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $18.07 (-3.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (ERF) For The Upcoming Trading Day Of Tuesday 19th
For the upcoming trading day on Tuesday, 19th we expect Enerplus Corporation to open at $18.52, and during the day (based on 14 day Average True Range), to move between $18.24 and $19.02, which gives a possible trading interval of +/-$0.391 (+/-2.10%) up or down from last closing price. If Enerplus Corporation takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $17.91, some $0.720 (3.86%) from the current price of $18.63, our system finds the risk reward attractive.
Is Enerplus Corporation stock A Buy?
Enerplus Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.457 Strong Buy Candidate Unchanged
Predicted Opening Price for Enerplus Corporation of Tuesday, March 19, 2024
Fair opening price March 19, 2024 | Current price |
---|---|
$18.52 ( 0.573%) | $18.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.96 | 1.79 % | |
R2 | 18.80 | 0.89 % | ||
R1 | 18.69 | 0.330 % | ||
Current price: | 18.63 | |||
Support | S1 | 18.36 | -1.47 % | |
S2 | 18.25 | -2.03 % | ||
S3 | 18.08 | -2.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 18.63 | |||
Support | S1 | 17.91 | -3.86% | |
S2 | 17.59 | -5.58% | ||
S3 | 15.50 | -16.80% |
ERF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.0651 | 0.356% |
2 | Nov 02, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.0600 | 0.406% |
3 | Aug 09, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0600 | 0.342% |
4 | May 04, 2023 | May 30, 2023 | Jun 15, 2023 | $0.0550 | 0.381% |
5 | Feb 23, 2023 | Mar 03, 2023 | Mar 15, 2023 | $0.0550 | 0.416% |
FAQ
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