Energy Focus Stock Forecast
Energy Focus stock price down 4.76% on Friday
(Updated on Apr 19, 2024)
The Energy Focus stock price fell by -4.76% on the last day (Friday, 19th Apr 2024) from $1.47 to $1.40. During the last trading day the stock fluctuated 7.29% from a day low at $1.37 to a day high of $1.47. The price has fallen in 5 of the last 10 days and is down by -4.11% for this period. Volume has increased on the last day by 1 thousand 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, 5 thousand shares were bought and sold for approximately $6.38 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.99% during the next 3 months and, with a 90% probability hold a price between $1.36 and $2.52 at the end of this 3-month period.
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EFOI Signals & Forecast
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. The Energy Focus 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 $1.45 and $1.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 22, 2024, and so far it has fallen -39.91%. Further fall is indicated until a new bottom pivot has been found. Energy Focus 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 Energy Focus stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.30 and $1.29. 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, Energy Focus finds support just below today's level at $1.30. If this is broken, then the next support from accumulated volume will be at $1.29 and $1.25.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0999 between high and low, or 7.29%. For the last week, the stock has had daily average volatility of 7.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EFOI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Energy Focus to open at $1.41, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.53, which gives a possible trading interval of +/-$0.132 (+/-9.44%) up or down from last closing price. If Energy Focus takes out the full calculated possible swing range there will be an estimated 18.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.48 (5.36%) than the support at $1.30 (7.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Energy Focus stock A Buy?
The Energy Focus stock holds several negative signals and despite the positive trend, we believe Energy Focus will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.216 Sell Candidate Unchanged
Predicted Opening Price for Energy Focus of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$1.41 ( 0.95%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFOI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.51 | 8.09 % | |
R2 | 1.48 | 5.36 % | ||
R1 | 1.45 | 3.68 % | ||
Current price: | 1.40 | |||
Support | S1 | 1.38 | -1.77 % | |
S2 | 1.35 | -3.46 % | ||
S3 | 1.31 | -6.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.67 | 19.29 % | |
R2 | 1.50 | 7.14 % | ||
R1 | 1.48 | 5.36 % | ||
Current price | 1.40 | |||
Support | S1 | 1.30 | -7.14% | |
S2 | 1.29 | -7.86% | ||
S3 | 1.25 | -10.71% |
FAQ
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