ESP.L Forecast and Technical Stock Analysis
Hold candidate since 2019-08-22
Espey Manufacturing & Electronics Corp gained 1.50% in the last trading day ( Thursday, 22nd Aug 2019 ), rising from £0.93 to £0.95 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 2.81% from a day low at £0.93 to a day high of £0.96. The price has been going up and down for this period, and there has been a 3.38% gain for the last 2 weeks. Volume fell in the last day by -372 378 shares and in total, 788 486 shares bought and sold for approximately £747 485.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the ESP.L stock price was £0.96 and low was £0.89.
- 90 day high was £0.96 and low was £0.89.
- 52 week high for Espey Manufacturing & Electronics Corp - £99.70 and low - £0.89.
Espey Manufacturing & Electronics Corp has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £0.93 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £0.96 sometime during the next 3 months.
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 £0.92 and £0.91. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday August 15, 2019, which indicates further gains 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. 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.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSImin/max Values: [ 20 - 80 ]
RSI14 is 72 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Espey Manufacturing & Electronics Corp finds support from accumulated volume at £0.92.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stop-loss: £0.91 (-3.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
2.30 %Average volatility
Very Low Low Medium High Very High
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 further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Hold/Accumulate.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!