eMagin Corp Stock Forecast
eMagin Corp stock price down 0.609% on Thursday
(Updated on Apr 25, 2024)
The eMagin Corp stock price fell by -0.609% on the last day (Thursday, 25th Apr 2024) from £57.50 to £57.15. During the last trading day the stock fluctuated 1.21% from a day low at £57.15 to a day high of £57.84. The price has fallen in 5 of the last 10 days but is still up by 2.05% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 thousand shares and in total, 7 thousand shares were bought and sold for approximately £402.34 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £58.14 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.90% during the next 3 months and, with a 90% probability hold a price between £44.28 and £49.48 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EMAN.L 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 eMagin Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £57.49 and £57.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -3.14%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for eMagin Corp stock
eMagin Corp finds support from accumulated volume at £57.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved £0.690 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMAN.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect eMagin Corp to open at £57.38, and during the day (based on 14 day Average True Range), to move between £55.57 and £58.73, which gives a possible trading interval of +/-£1.58 (+/-2.76%) up or down from last closing price. If eMagin Corp takes out the full calculated possible swing range there will be an estimated 5.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £57.00 (0.26%) than the resistance at £59.00 (3.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is eMagin Corp stock A Buy?
eMagin Corp holds several negative signals and is within a 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.
Current score: -4.741 Sell Candidate Unchanged
Predicted Opening Price for eMagin Corp of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £57.38 ( 0.402%) | £57.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMAN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.07 | 1.61 % | |
| R2 | 57.81 | 1.15 % | ||
| R1 | 57.64 | 0.86 % | ||
| Current price: | 57.15 | |||
| Support | S1 | 57.12 | -0.0588 % | |
| S2 | 56.95 | -0.344 % | ||
| S3 | 56.69 | -0.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.00 | 15.49 % | |
| R2 | 60.24 | 5.41 % | ||
| R1 | 59.00 | 3.24 % | ||
| Current price | 57.15 | |||
| Support | S1 | 57.00 | -0.262% | |
| S2 | 56.50 | -1.14% | ||
| S3 | 56.00 | -2.01% |
FAQ
Click here for our free guide on how to buy eMagin Corp Stock.
