Energy and Water Development Corp. Stock Forecast
High volatility in Energy and Water Development Corp. stock price on Thursday which ended trading at $0.0500
(Updated on May 02, 2024)
The Energy and Water Development Corp. stock price fell by -7.41% on the last day (Thursday, 2nd May 2024) from $0.0540 to $0.0500. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 12.86% from a day low at $0.0490 to a day high of $0.0553. The price has fallen in 7 of the last 10 days and is down by -35.38% for this period. Volume has increased on the last day by 122 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, 459 thousand shares were bought and sold for approximately $22.93 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.0417 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Energy and Water Development Corp. stock with a 90% probability to be traded between $0.0416 and $0.0895 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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EAWD Signals & Forecast
There are few to no technical positive signals at the moment. The Energy and Water Development Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0658 and $0.0613. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 16, 2024, and so far it has fallen -44.44%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Energy and Water Development Corp. 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Energy and Water Development Corp. stock
Energy and Water Development Corp. finds support from accumulated volume at $0.0491 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 $0.0063 between high and low, or 12.86%. For the last week, the stock has had daily average volatility of 20.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EAWD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Energy and Water Development Corp. to open at $0.0514, and during the day (based on 14 day Average True Range), to move between $0.0387 and $0.0613, which gives a possible trading interval of +/-$0.0113 (+/-22.61%) up or down from last closing price. If Energy and Water Development Corp. takes out the full calculated possible swing range there will be an estimated 45.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0491 (1.80%) than the resistance at $0.0570 (14.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Energy and Water Development Corp. stock A Buy?
Energy and Water Development Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.930 Strong Sell Candidate Downgraded
Predicted Opening Price for Energy and Water Development Corp. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0514 ( 2.87%) | $0.0500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EAWD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0577 | 15.47 % | |
| R2 | 0.0553 | 10.65 % | ||
| R1 | 0.0538 | 7.68 % | ||
| Current price: | 0.0500 | |||
| Support | S1 | 0.0490 | -1.95 % | |
| S2 | 0.0475 | -4.92 % | ||
| S3 | 0.0451 | -9.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0610 | 22.00 % | |
| R2 | 0.0585 | 16.90 % | ||
| R1 | 0.0570 | 14.00 % | ||
| Current price | 0.0500 | |||
| Support | S1 | 0.0491 | -1.80% | |
| S2 | 0.0480 | -4.00% | ||
| S3 | 0.0420 | -16.00% |
FAQ
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