Ecarx Holdings Inc. Stock Forecast
Evaluation of Ecarx Holdings Inc. stock downgraded after the last trading session.
(Updated on Jun 17, 2024)
No changes to the price of Ecarx Holdings Inc. stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0333 to a day high of $0.0333. The price has risen in 4 of the last 10 days and is up by 64.85% over the past 2 weeks.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ecarx Holdings Inc. stock with a 90% probability to be traded between $0.0195 and $0.0400 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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ECXWW Signals & Forecast
The Ecarx Holdings Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0310 and $0.0258. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 with a target of $0.0206. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Ecarx Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0301 and $0.0300. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ecarx Holdings Inc. finds support just below today's level at $0.0301. If this is broken, then the next support from accumulated volume will be at $0.0300 and $0.0297.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 13.78%
Our recommended stop-loss: $0.0321 (-3.48%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ECXWW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ecarx Holdings Inc. to open at $0.0333, and during the day (based on 14 day Average True Range), to move between $0.0292 and $0.0374, which gives a possible trading interval of +/-$0.0041 (+/-12.19%) up or down from last closing price. If Ecarx Holdings Inc. takes out the full calculated possible swing range there will be an estimated 24.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0301 (9.61%) than the resistance at $0.0370 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ecarx Holdings Inc. stock A Buy?
Ecarx Holdings Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Ecarx Holdings Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0333 ( 0%) | $0.0333 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECXWW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0333 | - |
| R2 | 0.0333 | - |
| R1 | 0.0333 | - |
| Price | 0.0333 | |
| S1 | 0.0333 | - |
| S2 | 0.0333 | - |
| S3 | 0.0333 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0390 | 17.20% |
| R2 | 0.0383 | 15.02% |
| R1 | 0.0370 | 11.11% |
| Price | 0.0333 | |
| S1 | 0.0301 | -9.61% |
| S2 | 0.0300 | -9.91% |
| S3 | 0.0297 | -10.81% |
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