Entravision Communications Corporation Stock Forecast

Entravision Communications Corporation stock price up more than 6.06% on Friday
(Updated on Apr 19, 2024)

EVC Signals & Forecast

The Entravision Communications 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 $2.05 and $1.91. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.67%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Entravision Communications Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.79 and $1.62. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Entravision Communications Corporation finds support just below today's level at $1.79. If this is broken, then the next support from accumulated volume will be at $1.62 and $1.59.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.180 between high and low, or 9.18%. For the last week, the stock has had daily average volatility of 6.24%.

Our recommended stop-loss: $2.00 (-4.61%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (EVC) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Entravision Communications Corporation to open at $2.07, and during the day (based on 14 day Average True Range), to move between $1.97 and $2.23, which gives a possible trading interval of +/-$0.135 (+/-6.41%) up or down from last closing price. If Entravision Communications Corporation takes out the full calculated possible swing range there will be an estimated 12.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.18 (3.81%) than the support at $1.79 (14.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Entravision Communications Corporation stock A Buy?

Entravision Communications Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.165 Hold/Accumulate Upgraded

Predicted Opening Price for Entravision Communications Corporation of Monday, April 22, 2024

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