Engenco Limited Stock Forecast
Engenco Limited stock price took a fall of -7.14% on Monday
(Updated on May 20, 2024)
The Engenco Limited stock price fell by -7.14% on the last day (Monday, 20th May 2024) from $0.210 to $0.195. During the last trading day the stock fluctuated 2.56% from a day low at $0.195 to a day high of $0.200. The price has fallen in 4 of the last 10 days and is down by -2.5% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 thousand shares and in total, 10 thousand shares were bought and sold for approximately $1.95 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 -22.09% during the next 3 months and, with a 90% probability hold a price between $0.142 and $0.178 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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EGN.AX Signals & Forecast
There are mixed signals in the stock today. The Engenco Limited 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 $0.206 and $0.224. 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. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 2.63%. 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 Engenco Limited stock
Engenco Limited finds support from accumulated volume at $0.190 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 2.56%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGN.AX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Engenco Limited to open at $0.197, and during the day (based on 14 day Average True Range), to move between $0.188 and $0.202, which gives a possible trading interval of +/-$0.0071 (+/-3.63%) up or down from last closing price. If Engenco Limited takes out the full calculated possible swing range there will be an estimated 7.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.200 (2.56%) than the support at $0.190 (2.56%), 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 Engenco Limited stock A Buy?
Engenco Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.404 Strong Sell Candidate Downgraded
Predicted Opening Price for Engenco Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.197 ( 0.85%) | $0.195 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.202 | 3.42 % | |
| R2 | 0.200 | 2.44 % | ||
| R1 | 0.199 | 1.83 % | ||
| Current price: | 0.195 | |||
| Support | S1 | 0.195 | -0.125 % | |
| S2 | 0.194 | -0.730 % | ||
| S3 | 0.192 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.240 | 23.08 % | |
| R2 | 0.210 | 7.69 % | ||
| R1 | 0.200 | 2.56 % | ||
| Current price | 0.195 | |||
| Support | S1 | 0.190 | -2.56% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
EGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 06, 2023 | Sep 06, 2023 | Sep 06, 2023 | $0.0050 | 1.45% |
| 2 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | $0.0150 | 3.49% |
| 3 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | $0.0050 | 0.85% |
| 4 | Sep 06, 2021 | Sep 06, 2021 | Sep 06, 2021 | $0.0150 | 3.06% |
| 5 | Mar 04, 2021 | Mar 04, 2021 | Mar 04, 2021 | $0.0050 | 0.92% |
FAQ
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