High volatility in Endo stock price on Friday which ended trading at $0.72
(Updated on Aug 05, 2022)
Buy or Hold candidate since 2022-07-28 Gain 34.44% PDF
The Endo stock price gained 12.21% on the last trading day (Friday, 5th Aug 2022), rising from $0.64 to $0.72. During the last trading day the stock fluctuated 22.90% from a day low at $0.61 to a day high of $0.75. The price has risen in 6 of the last 10 days and is up by 77.25% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 45 million shares were bought and sold for approximately $32.06 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very 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 $0.73 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 -35.59% during the next 3 months and, with a 90% probability hold a price between $0.0222 and $0.47 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.
Signals & Forecast
The Endo stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.61 and $0.48. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, August 03, 2022, and so far it has fallen -4.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss
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 $0.14 between high and low, or 22.90%. For the last week, the stock has had a daily average volatility of 25.80%.
Our recommended stop-loss: $0.68 (-4.65%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations For The Upcoming Trading Day Of Monday 8th
For the upcoming trading day on Monday 8th we expect Endo International plc to open at $0.69, and during day (based on 14 day Average True Range), to move between $0.61 and $0.82, which gives a possible trading interval of +/-$0.11 (+/-15.23%) up or down from last closing price. If Endo International plc takes out the full calculated possible swing range there will be an estimated 30.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.71 (0.82%) than the resistance at $0.75 (4.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Endo International plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.007Buy Candidate Upgraded
Predicted Opening Price for Endo International plc of Monday, August 8, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 8, 2022||Current price|
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