eGain Corporation Stock Forecast

eGain Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)

EGAN Signals & Forecast

There are mixed signals in the stock today. The eGain Corporation 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 $6.21 and $6.30. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 9.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for eGain Corporation stock

eGain Corporation finds support from accumulated volume at $6.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0600 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 1.50%

Our recommended stop-loss: $5.96 (-3.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 53 days ago.)

Trading Expectations (EGAN) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect eGain Corporation to open at $6.23, and during the day (based on 14 day Average True Range), to move between $6.05 and $6.37, which gives a possible trading interval of +/-$0.161 (+/-2.59%) up or down from last closing price. If eGain Corporation takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.27 (0.97%) than the support at $6.13 (1.29%), 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 eGain Corporation stock A Buy?

eGain Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.246 Hold/Accumulate Upgraded

Predicted Opening Price for eGain Corporation of Wednesday, May 1, 2024

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