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High volatility in Evofem Biosciences Inc. stock price on Tuesday which ended trading at $1.07

StockInvest.us, 2 months ago

Evofem Biosciences

No changes to the price of Evofem Biosciences Inc. stock on the last trading day (Tuesday, 28th Jun 2022). During the day the stock fluctuated 61.67% from a day low at $0.93 to a day high of $1.50. The price has been going up and down for this period, and there has been a 239.68% gain for the last 2 weeks.

Laidlaw & Co. is very positive about EVFM and gave it a "" rating on Jun 02, 2022. The price target was set to 3.5.Over the last 90 days, this security got 3 buy, 2 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and strong 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 19.63% during the next 3 months and, with a 90% probability hold a price between $0.31 and $1.85 at the end of this 3-month period.

Evofem Biosciences

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 06, 2022, and so far it has fallen -23.57%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The Evofem Biosciences Inc. 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 $0.54 and $0.59. 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).

Evofem Biosciences Inc. finds support from accumulated volume at $1.03 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.57 between high and low, or 61.67%. For the last week, the stock has had a daily average volatility of 42.52%.

The Evofem Biosciences Inc. stock is extremely overbought on RSI14 (90). This increases the short-term risk substantially.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Evofem Biosciences Inc. stock to perform well in the short-term.

Check full Evofem Biosciences forecast and analysis here.