Eco Depot Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
A very red day for Eco Depot Inc. stock price after a -14.00% fall in the Tuesday trading session
(Updated on Jul 02, 2024)
The Eco Depot Inc. stock price fell by -14.00% on the last day (Tuesday, 2nd Jul 2024) from $0.100 to $0.0860. During the last trading day the stock fluctuated 0% from a day low at $0.0860 to a day high of $0.0860. The price has been going up and down for this period, and there has been a -15.69% loss for the last 2 weeks. Volume has increased on the last day by 200 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, 200 shares were bought and sold for approximately $17.20 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.66% during the next 3 months and, with a 90% probability hold a price between $0.0501 and $0.0760 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ECDP Signals & Forecast
There are few to no technical positive signals at the moment. The Eco Depot Inc. 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 $0.0980 and $0.106. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -33.69%. 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). Eco Depot Inc. 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 Eco Depot Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
Our recommended stop-loss: $0.0817 (-5.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (ECDP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Eco Depot Inc. to open at $0.0860, and during the day (based on 14 day Average True Range), to move between $0.0796 and $0.0924, which gives a possible trading interval of +/-$0.0064 (+/-7.50%) up or down from last closing price. If Eco Depot Inc. takes out the full calculated possible swing range there will be an estimated 15.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.100, some $0.0140 (16.28%) from the current price of $0.0860, our system finds the risk reward not very attractive.
Is Eco Depot Inc. stock A Buy?
Eco Depot Inc. 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Eco Depot Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0860 ( 0.00000000%) | $0.0860 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECDP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0860 | 0.00000000% |
| R2 | 0.0860 | 0.00000000% |
| R1 | 0.0860 | 0.00000000% |
| Price | 0.0860 | |
| S1 | 0.0860 | 0.00000000% |
| S2 | 0.0860 | 0.00000000% |
| S3 | 0.0860 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.107 | 24.42% |
| R2 | 0.105 | 22.09% |
| R1 | 0.100 | 16.28% |
| Price | 0.0860 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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