Edible Garden Ag Incorporated Stock Forecast

Stronger technical forecast for Edible Garden Ag Incorporated stock price after Tuesday trading.
(Updated on Jun 25, 2024)

EDBLW Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 $0.0169 and $0.0210. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -61.24%. 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 $0.0149 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 11.73%.

Our recommended stop-loss: $0.0141 (-6.26%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (EDBLW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Edible Garden Ag Incorporated to open at $0.0150, and during the day (based on 14 day Average True Range), to move between $0.0080 and $0.0220, which gives a possible trading interval of +/-$0.0070 (+/-46.89%) 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 93.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0149 (0.67%) than the resistance at $0.0152 (1.33%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Edible Garden Ag Incorporated of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.