Eguana Technologies Inc. Stock Forecast
Volatile ride for Eguana Technologies Inc. stock price on Thursday moving between $0.0050 and $0.0078
(Updated on May 02, 2024)
The Eguana Technologies Inc. stock price gained 35.34% on the last trading day (Thursday, 2nd May 2024), rising from $0.0053 to $0.0072. During the last trading day the stock fluctuated 56.00% from a day low at $0.0050 to a day high of $0.0078. The price has fallen in 6 of the last 10 days and is down by -50% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $12.19 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 -36.71% during the next 3 months and, with a 90% probability hold a price between $0.0033 and $0.0083 at the end of this 3-month period.
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EGTYF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 35.34%. Further rise is indicated until a new top pivot has been found. Eguana Technologies Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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 Eguana Technologies Inc. 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 $0.0075 and $0.0121. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eguana Technologies Inc. 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 $0.0028 between high and low, or 56.00%. For the last week, the stock has had daily average volatility of 27.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGTYF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Eguana Technologies Inc. to open at $0.0067, and during the day (based on 14 day Average True Range), to move between $0.0056 and $0.0088, which gives a possible trading interval of +/-$0.0016 (+/-22.58%) up or down from last closing price. If Eguana Technologies Inc. takes out the full calculated possible swing range there will be an estimated 45.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0074, some $0.0002 (2.78%) from the current price of $0.0072, our system finds the risk reward not very attractive.
Is Eguana Technologies Inc. stock A Buy?
Eguana Technologies Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.912 Sell Candidate Upgraded
Predicted Opening Price for Eguana Technologies Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0067 ( 7.41%) | $0.0072 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGTYF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0095 | 31.48 % | |
| R2 | 0.0084 | 16.63 % | ||
| R1 | 0.0077 | 7.45 % | ||
| Current price: | 0.0072 | |||
| Support | S1 | 0.0056 | -22.26 % | |
| S2 | 0.0049 | -31.44 % | ||
| S3 | 0.0039 | -46.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0075 | 4.17 % | ||
| R1 | 0.0074 | 2.78 % | ||
| Current price | 0.0072 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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