Eden Innovations Ltd 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
High volatility in Eden Innovations Ltd stock price on Friday which ended trading at $0.0020
(Updated on Jun 14, 2024)
No changes to the price of Eden Innovations Ltd stock on the last trading day (Friday, 14th Jun 2024). During the last trading day the stock fluctuated 100.00% from a day low at $0.0010 to a day high of $0.0020. The price has been going up and down for this period, and there has been a 0% change for the last 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 Eden Innovations Ltd stock with a 90% probability to be traded between $0.0010 and $0.0030 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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EDE.AX Signals & Forecast
The Eden Innovations Ltd 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 $0.0020 and $0.0020. 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). 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. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 and based on theory for this formation the price should go up by 0% to $0.0020 within 32 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for Eden Innovations Ltd 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 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 $0.0010 between high and low, or 100.00%. For the last week, the stock has had daily average volatility of 60.00%.
Our recommended stop-loss: $0.0019 (-4.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (EDE.AX) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Eden Innovations Ltd to open at $0.0017, and during the day (based on 14 day Average True Range), to move between $0.0013 and $0.0027, which gives a possible trading interval of +/-$0.0007 (+/-37.03%) up or down from last closing price. If Eden Innovations Ltd takes out the full calculated possible swing range there will be an estimated 74.07% move between the lowest and the highest trading price during the day.
Is Eden Innovations Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Eden Innovations Ltd stock to perform well in the short-term period.
Current score: 1.613 Buy Candidate Unchanged
Predicted Opening Price for Eden Innovations Ltd of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.0017 ( 16.67%) | $0.0020 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0027 | 33.33% |
| R2 | 0.0023 | 14.23% |
| R1 | 0.0020 | 2.43% |
| Price | 0.0020 | |
| S1 | 0.0013 | -35.77% |
| S2 | 0.0010 | -47.57% |
| S3 | 0.0007 | -66.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0020 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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