ENIC Stock Forecast
Red day on Wednesday for ENIC
(Updated on Apr 24, 2024)
The ENIC stock price fell by -0.331% on the last day (Wednesday, 24th Apr 2024) from $3.02 to $3.01. During the last trading day the stock fluctuated 1.68% from a day low at $2.98 to a day high of $3.03. The price has fallen in 5 of the last 10 days and is down by -0.99% for this period. Volume has increased on the last day by 99 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 332 thousand shares were bought and sold for approximately $998.60 thousand.
The stock lies in the middle of a wide and weak 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 5.25% during the next 3 months and, with a 90% probability hold a price between $2.97 and $3.35 at the end of this 3-month period.
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ENIC Signals & Forecast
The ENIC 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 $2.95 and $2.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.74%. Further rise is indicated 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ENIC gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for ENIC stock
ENIC finds support from accumulated volume at $2.99 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 $0.0500 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENIC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ENIC to open at $3.01, and during the day (based on 14 day Average True Range), to move between $2.92 and $3.10, which gives a possible trading interval of +/-$0.0857 (+/-2.85%) up or down from last closing price. If ENIC takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.99 (0.66%) than the resistance at $3.03 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
ENIC will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for ENIC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.74% in the first trading day after earnings release.
Is ENIC stock A Buy?
ENIC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.977 Sell Candidate Unchanged
Predicted Opening Price for ENIC of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $3.01 ( 0.111%) | $3.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENIC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.06 | 1.55 % | |
| R2 | 3.04 | 0.92 % | ||
| R1 | 3.03 | 0.524 % | ||
| Current price: | 3.01 | |||
| Support | S1 | 2.99 | -0.745 % | |
| S2 | 2.98 | -1.14 % | ||
| S3 | 2.96 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.12 | 3.65 % | |
| R2 | 3.05 | 1.33 % | ||
| R1 | 3.03 | 0.664 % | ||
| Current price | 3.01 | |||
| Support | S1 | 2.99 | -0.664% | |
| S2 | 2.97 | -1.33% | ||
| S3 | 2.89 | -3.99% |
ENIC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 28, 2023 | Jan 18, 2024 | Jan 18, 2024 | $0.0344 | 1.23% |
| 2 | May 04, 2023 | May 18, 2023 | Jun 08, 2023 | $0.318 | 10.00% |
| 3 | Dec 02, 2022 | Jan 19, 2023 | Feb 09, 2023 | $0.0180 | 0.83% |
| 4 | May 19, 2021 | May 20, 2021 | May 20, 2021 | $0.219 | 7.37% |
| 5 | May 19, 2020 | May 19, 2020 | May 21, 2020 | $0.226 | 5.89% |
FAQ
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