Edible Garden AG Incorporated Stock Forecast
Volatile ride for Edible Garden AG Incorporated stock price on Tuesday moving between $4.92 and $5.81
(Updated on Apr 30, 2024)
The Edible Garden AG Incorporated stock price gained 4.79% on the last trading day (Tuesday, 30th Apr 2024), rising from $5.22 to $5.47. During the last trading day the stock fluctuated 18.09% from a day low at $4.92 to a day high of $5.81. The price has fallen in 6 of the last 10 days but is still up by 20.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 151 thousand shares were bought and sold for approximately $826.09 thousand.
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 -38.13% during the next 3 months and, with a 90% probability hold a price between $2.02 and $4.41 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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EDBL Signals & Forecast
Edible Garden AG Incorporated has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Edible Garden AG Incorporated 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 $5.94 and $6.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -17.00%. 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).
Support, Risk & Stop-loss for Edible Garden AG Incorporated stock
Edible Garden AG Incorporated finds support from accumulated volume at $5.25 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 $0.89 between high and low, or 18.09%. For the last week, the stock has had daily average volatility of 17.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EDBL) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Edible Garden AG Incorporated to open at $5.40, and during the day (based on 14 day Average True Range), to move between $3.90 and $7.04, which gives a possible trading interval of +/-$1.57 (+/-28.69%) up or down from last closing price. If Edible Garden AG Incorporated takes out the full calculated possible swing range there will be an estimated 57.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.25 (4.02%) than the resistance at $6.26 (14.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Edible Garden AG Incorporated stock A Buy?
Edible Garden AG Incorporated 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: -6.762 Strong Sell Candidate Unchanged
Predicted Opening Price for Edible Garden AG Incorporated of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $5.40 ( 1.28%) | $5.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDBL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.29 | 14.99 % | |
| R2 | 5.95 | 8.78 % | ||
| R1 | 5.74 | 4.94 % | ||
| Current price: | 5.47 | |||
| Support | S1 | 5.06 | -7.50 % | |
| S2 | 4.85 | -11.33 % | ||
| S3 | 4.51 | -17.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.66 | 21.76 % | |
| R2 | 6.59 | 20.48 % | ||
| R1 | 6.26 | 14.44 % | ||
| Current price | 5.47 | |||
| Support | S1 | 5.25 | -4.02% | |
| S2 | 4.58 | -16.27% | ||
| S3 | 4.55 | -16.82% |
FAQ
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