Energy Finders Inc Stock Forecast

Big movements in Energy Finders Inc stock price on Thursday moving 33.33% between high and low
(Updated on Jun 27, 2024)

EGYF Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 16.67%. Further rise is indicated until a new top pivot has been found. Energy Finders 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 Energy Finders Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0797. On a fall, the stock will find some support from the short-term average at $0.0699. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Energy Finders Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0600. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0.0200 between high and low, or 33.33%. For the last week, the stock has had daily average volatility of 6.67%.

Our recommended stop-loss: $0.0664 (-5.17%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (EGYF) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Energy Finders Inc to open at $0.0700, and during the day (based on 14 day Average True Range), to move between $0.0638 and $0.0762, which gives a possible trading interval of +/-$0.0062 (+/-8.83%) up or down from last closing price. If Energy Finders Inc takes out the full calculated possible swing range there will be an estimated 17.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0710 (1.43%) than the support at $0.0600 (14.29%), 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 Energy Finders Inc stock A Buy?

Energy Finders Inc 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Energy Finders Inc of Friday, June 28, 2024

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