Espey Manufacturing & Electronics Corp Forecast and Stock Analysis
Technical ESP.L stock analysis for February 15, 2019.
|Shorts||0.01% ( 2019-01-31 )|
Espey Manufacturing & Electronics Corp fell by -0.10% in the last day from £98.30 to £98.20 The price has risen in 7 of the last 10 days and is up by 2.08% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -224 549 shares and in total 813 259 shares bought and sold for approximately £79.86 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ESP.L stock was £98.20. This is 0.1% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.02% from a day low at £97.90 to a day high of £98.90.
30 day high of the ESP.L stock price was £98.90 and low was £89.20.
90 day high was £98.90 and low was £89.10.
52 week high for the Espey Manufacturing & Electronics Corp - £99.70 and low - £81.20.
Espey Manufacturing & Electronics Corp lies in the upper part of a weak rising trend in the short term, and this will 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 £99.03 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 2.91% during the next 3 months and, with 90% probability hold a price between £92.75 and £101.92 at the end of this period.
Espey Manufacturing & Electronics Corp holds buy signals from both short- and long-term moving averages. In addition, 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 £98.11 and £93.48. A break down 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 sales signal was issued from a pivot top point on Tuesday February 12, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
The stock holds a RSI14 at 83 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Espey Manufacturing & Electronics Corp finds support from accumulated volume at £94.50.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £1.00 (1.02%) between high and low. For the last week, the stock has had a daily average volatility of 1.46%.
The stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: £94.30 (-3.97%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
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Espey Manufacturing & Electronics Corp holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.