Energous Corporation Stock Forecast
Green day on Wednesday for Energous Corporation stock after gaining 2.94%
(Updated on Apr 24, 2024)
The Energous Corporation stock price gained 2.94% on the last trading day (Wednesday, 24th Apr 2024), rising from $1.36 to $1.40. During the last trading day the stock fluctuated 3.84% from a day low at $1.38 to a day high of $1.43. The price has fallen in 6 of the last 10 days and is down by -21.79% for this period. Volume fell on the last day by -5 thousand shares and in total, 18 thousand shares were bought and sold for approximately $25.16 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.34 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.26% during the next 3 months and, with a 90% probability hold a price between $1.16 and $1.99 at the end of this 3-month period.
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WATT Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.70%. 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. The Energous Corporation 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 $1.42 and $1.75. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Energous Corporation stock
Energous Corporation finds support from accumulated volume at $1.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0530 between high and low, or 3.84%. For the last week the stock has had daily average volatility of 6.11%.
Energous Corporation is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WATT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Energous Corporation to open at $1.40, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.53, which gives a possible trading interval of +/-$0.132 (+/-9.41%) up or down from last closing price. If Energous Corporation takes out the full calculated possible swing range there will be an estimated 18.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.43 (1.79%) than the support at $1.37 (2.14%), 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 Energous Corporation stock A Buy?
Energous Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.058 Strong Sell Candidate Unchanged
Predicted Opening Price for Energous Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$1.40 ( 0.310%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WATT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.46 | 4.10 % | |
R2 | 1.44 | 2.65 % | ||
R1 | 1.42 | 1.76 % | ||
Current price: | 1.40 | |||
Support | S1 | 1.38 | -1.14 % | |
S2 | 1.37 | -2.03 % | ||
S3 | 1.35 | -3.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.66 | 18.57 % | |
R2 | 1.56 | 11.07 % | ||
R1 | 1.43 | 1.79 % | ||
Current price | 1.40 | |||
Support | S1 | 1.37 | -2.14% | |
S2 | 1.36 | -2.86% | ||
S3 | 1.35 | -3.57% |
FAQ
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