Eguana Technologies Inc. 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
Big movements in Eguana Technologies Inc. stock price on Friday moving 42.63% between high and low
(Updated on May 17, 2024)
The Eguana Technologies Inc. stock price fell by -22.45% on the last day (Friday, 17th May 2024) from $0.0098 to $0.0076. During the last trading day the stock fluctuated 42.63% from a day low at $0.0076 to a day high of $0.0108. The price has been going up and down for this period, and there has been a -5% loss for the last 2 weeks. Volume has increased on the last day by 83 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, 83 thousand shares were bought and sold for approximately $633.11 .
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 -37.64% during the next 3 months and, with a 90% probability hold a price between $0.0026 and $0.0065 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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EGTYF 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 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 $0.0101 and $0.0108. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -29.63%. Further fall is indicated until a new bottom pivot has been found. Eguana Technologies Inc. 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 Eguana Technologies Inc. stock
Eguana Technologies Inc. finds support from accumulated volume at $0.0075 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 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 $0.0032 between high and low, or 42.63%. For the last week, the stock has had daily average volatility of 10.77%.
Our recommended stop-loss: $0.0072 (-5.12%) (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 (EGTYF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Eguana Technologies Inc. to open at $0.0087, and during the day (based on 14 day Average True Range), to move between $0.0064 and $0.0088, which gives a possible trading interval of +/-$0.0012 (+/-15.86%) up or down from last closing price. If Eguana Technologies Inc. takes out the full calculated possible swing range there will be an estimated 31.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0075 (1.32%) than the resistance at $0.0080 (5.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eguana Technologies Inc. stock A Buy?
Eguana Technologies Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Eguana Technologies Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0087 ( 14.21%) | $0.0076 |
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 | 0.0119 | 56.84 % | |
| R2 | 0.0107 | 40.56 % | ||
| R1 | 0.0099 | 30.50 % | ||
| Current price: | 0.0076 | |||
| Support | S1 | 0.0074 | -2.07 % | |
| S2 | 0.0067 | -12.14 % | ||
| S3 | 0.0054 | -28.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0090 | 18.42 % | ||
| R1 | 0.0080 | 5.26 % | ||
| Current price | 0.0076 | |||
| Support | S1 | 0.0075 | -1.32% | |
| S2 | 0.0074 | -2.63% | ||
| S3 | 0.0072 | -5.26% |
FAQ
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