Icahn Enterprises Stock Forecast
Stronger technical forecast for Icahn Enterprises stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Icahn Enterprises stock price gained 0.0579% on the last trading day (Thursday, 25th Apr 2024), rising from $17.26 to $17.27. It has now gained 3 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 last trading day the stock fluctuated 2.54% from a day low at $16.95 to a day high of $17.38. The price has fallen in 6 of the last 10 days and is down by -1.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 352 thousand shares were bought and sold for approximately $6.08 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.08% during the next 3 months and, with a 90% probability hold a price between $14.37 and $16.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IEP Signals & Forecast
The Icahn Enterprises stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $17.01 and $17.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.60%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Icahn Enterprises stock
Icahn Enterprises finds support from accumulated volume at $17.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.431 between high and low, or 2.54%. For the last week the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: $16.45 (-4.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (IEP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Icahn Enterprises L.P. to open at $17.20, and during the day (based on 14 day Average True Range), to move between $16.87 and $17.67, which gives a possible trading interval of +/-$0.403 (+/-2.33%) up or down from last closing price. If Icahn Enterprises L.P. takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.16 (0.64%) than the resistance at $18.09 (4.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Icahn Enterprises L.P. stock A Buy?
Icahn Enterprises 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: 0.192 Hold/Accumulate Upgraded
Predicted Opening Price for Icahn Enterprises L.P. of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$17.20 ( 0.408%) | $17.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.63 | 2.09 % | |
R2 | 17.47 | 1.14 % | ||
R1 | 17.36 | 0.546 % | ||
Current price: | 17.27 | |||
Support | S1 | 17.03 | -1.36 % | |
S2 | 16.93 | -1.95 % | ||
S3 | 16.77 | -2.91 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.67 | 13.90 % | |
R2 | 19.52 | 13.03 % | ||
R1 | 18.09 | 4.75 % | ||
Current price | 17.27 | |||
Support | S1 | 17.16 | -0.637% | |
S2 | 17.02 | -1.45% | ||
S3 | 17.00 | -1.56% |
IEP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 26, 2024 | Mar 08, 2024 | Apr 18, 2024 | $1.00 | 5.92% |
2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | $0 | 0% |
3 | Aug 02, 2023 | Aug 17, 2023 | Sep 27, 2023 | $1.00 | 5.07% |
4 | May 09, 2023 | May 19, 2023 | Jun 30, 2023 | $2.00 | 6.89% |
5 | Feb 22, 2023 | Mar 10, 2023 | Apr 19, 2023 | $2.00 | 3.85% |
FAQ
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