Espey Manufacturing & Electronics Corp Stock Forecast
Espey Manufacturing & Electronics Corp stock upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Espey Manufacturing & Electronics Corp stock price gained 0.223% on the last trading day (Thursday, 25th Apr 2024), rising from £89.50 to £89.70. During the last trading day the stock fluctuated 2.89% from a day low at £88.45 to a day high of £91.00. The price has risen in 5 of the last 10 days but is still down by -1.86% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 197 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately £103.53 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £88.09 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Espey Manufacturing & Electronics Corp stock with a 90% probability to be traded between £87.97 and £96.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ESP.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.82%. 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. The Espey Manufacturing & Electronics Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £89.99 and £92.52. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Espey Manufacturing & Electronics Corp stock
Espey Manufacturing & Electronics Corp finds support from accumulated volume at £89.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £2.55 (2.89%) between high and low. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: £84.65 (-5.63%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ESP.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Espey Manufacturing & Electronics Corp to open at £89.72, and during the day (based on 14 day Average True Range), to move between £87.94 and £91.46, which gives a possible trading interval of +/-£1.76 (+/-1.97%) up or down from last closing price. If Espey Manufacturing & Electronics Corp takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £89.50 (0.22%) than the resistance at £91.00 (1.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Espey Manufacturing & Electronics Corp stock A Buy?
Espey Manufacturing & Electronics Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.275 Hold/Accumulate Upgraded
Predicted Opening Price for Espey Manufacturing & Electronics Corp of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £89.72 ( 0.0178%) | £89.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.27 | 2.86 % | |
| R2 | 91.29 | 1.78 % | ||
| R1 | 90.69 | 1.10 % | ||
| Current price: | 89.70 | |||
| Support | S1 | 88.74 | -1.07 % | |
| S2 | 88.14 | -1.74 % | ||
| S3 | 87.16 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.70 | 5.57 % | |
| R2 | 94.00 | 4.79 % | ||
| R1 | 91.00 | 1.45 % | ||
| Current price | 89.70 | |||
| Support | S1 | 89.50 | -0.223% | |
| S2 | 88.70 | -1.11% | ||
| S3 | 88.10 | -1.78% |
ESP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | Apr 19, 2024 | £0.94 | 1.03% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | £0 | 0% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £0.81 | 0.91% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | £0.88 | 1.01% |
| 5 | Oct 31, 2022 | Nov 10, 2022 | Nov 25, 2022 | £0.625 | 0.691% |
FAQ
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