Electric Last Mile Solutions, Inc. Stock Forecast
A very strong day for Electric Last Mile Solutions, Inc. stock price on Friday
(Updated on Jun 14, 2024)
The Electric Last Mile Solutions, Inc. stock price gained 16.67% on the last trading day (Friday, 14th Jun 2024), rising from $0.0600 to $0.0700. During the last trading day the stock fluctuated 7.69% from a day low at $0.0650 to a day high of $0.0700. The price has risen in 4 of the last 10 days and is up by 16.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $625.52 .
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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ELMSQ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Electric Last Mile Solutions, 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 Electric Last Mile Solutions, 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 $0.0752. On a fall, the stock will find some support from the short-term average at $0.0629. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -50.00%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Electric Last Mile Solutions, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0650 and $0.0600. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Electric Last Mile Solutions, Inc. finds support just below today's level at $0.0650. If this is broken, then the next support from accumulated volume will be at $0.0600 and $0.0550.
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 $0.0050 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $0.0655 (-6.38%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (ELMSQ) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Electric Last Mile Solutions, Inc. to open at $0.0683, and during the day (based on 14 day Average True Range), to move between $0.0304 and $0.110, which gives a possible trading interval of +/-$0.0396 (+/-56.53%) up or down from last closing price. If Electric Last Mile Solutions, Inc. takes out the full calculated possible swing range there will be an estimated 113.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0750 (7.14%) than the support at $0.0650 (7.14%), 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 Electric Last Mile Solutions, Inc. stock A Buy?
Electric Last Mile Solutions, 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 Electric Last Mile Solutions, Inc. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.0683 ( 2.38%) | $0.0700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELMSQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0733 | 4.76% |
| R2 | 0.0714 | 2.03% |
| R1 | 0.0702 | 0.348% |
| Price | 0.0700 | |
| S1 | 0.0664 | -5.11% |
| S2 | 0.0652 | -6.80% |
| S3 | 0.0633 | -9.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0820 | 17.14% |
| R2 | 0.0800 | 14.29% |
| R1 | 0.0750 | 7.14% |
| Price | 0.0700 | |
| S1 | 0.0650 | -7.14% |
| S2 | 0.0600 | -14.29% |
| S3 | 0.0550 | -21.43% |
FAQ
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