Electric Last Mile Solutions, Inc. Stock Forecast

A very red day for Electric Last Mile Solutions, Inc. stock price after a -7.14% fall in the Friday trading session
(Updated on Jun 21, 2024)

ELMSQ 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 Electric Last Mile Solutions, 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 $0.0664 and $0.0715. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -53.57%. Further fall is indicated until a new bottom pivot has been found. Electric Last Mile Solutions, 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 Electric Last Mile Solutions, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0600 and $0.0550. 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 $0.0600. If this is broken, then the next support from accumulated volume will be at $0.0550 and $0.0525.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.54%.

Our recommended stop-loss: $0.0619 (-4.84%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 37 days ago.)

Trading Expectations (ELMSQ) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Electric Last Mile Solutions, Inc. to open at $0.0650, and during the day (based on 14 day Average True Range), to move between $0.0352 and $0.0948, which gives a possible trading interval of +/-$0.0298 (+/-45.82%) 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 91.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0700 (7.69%) than the support at $0.0600 (7.69%), 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 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.

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 24, 2024

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