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ENGlobal Corporation Stock Forecast NASDAQ:ENG

$1.98 (-3.88%)

Volume: 883k

Closed: Nov 26, 2021

Hollow Logo Score: -3.217

ENGlobal Corporation Stock Forecast

$1.98 (-3.88%)

Volume: 883k

Closed: Nov 26, 2021

Score Hollow Logo -3.217
Which way will ENG go? Request
Key Stats
P/E Ratio -27.96
Beta 3.58
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] The ENGlobal Corporation stock currently holds an RSI14 at 24 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

ENGlobal Corporation stock price down 3.88% on Friday
(Updated on Nov 26, 2021)


Sell candidate since 2021-11-10 Loss -16.46%

The ENGlobal Corporation stock price fell by -3.88% on the last day (Friday, 26th Nov 2021) from $2.06 to $1.98. and has now fallen 3 days in a row. During the day the stock fluctuated 6.95% from a day low at $1.87 to a day high of $2.00. The price has fallen in 7 of the last 10 days and is down by -17.5% for this period. Volume has increased on the last day by 396 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 883 thousand shares were bought and sold for approximately $1.75 million.

Given the current short-term trend, the stock is expected to rise 3.85% during the next 3 months and, with a 90% probability hold a price between $2.06 and $3.38 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The ENGlobal Corporation 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 $2.09 and $2.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, October 01, 2021, and so far it has fallen -37.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

ENGlobal Corporation finds support from accumulated volume at $1.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.13 between high and low, or 6.95%. For the last week, the stock has had a daily average volatility of 7.29%.

ENGlobal Corporation is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is ENGlobal Corporation stock A Buy?

The ENGlobal Corporation stock holds several negative signals and despite the positive trend, we believe ENGlobal Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.217

Predicted Opening Price for ENGlobal Corporation of Monday, November 29, 2021

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

Fair opening price November 29, 2021 Current price
$1.95 $1.98 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 03, 2021 "Alliance Global Partners" gave "" rating for ENG. The price target was set to $2.48+2.1%.

Volatility and Risk
Daily Average Volatility: 7.29 %
Overall Risk: Very High High Medium Low Very Low
Volatility
7.29 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $2.15
Price: $1.98
Support: $1.97

ENG Insider Trading Show all Trades

INSIDER POWER

10.343

Last 100 transactions
Buy: 2 303 926 | Sell: 222 762 (Shares)
Date Action Amount Person Type
Aug 26, 2021 Buy 25 253 Kirchner Lloyd G. Common Stock
Aug 26, 2021 Buy 25 253 Palma Kevin M Common Stock
Aug 26, 2021 Buy 25 253 Sorrells Christopher D. Common Stock
Mar 19, 2021 Sell 20 000 Gent David W Common Stock
Mar 17, 2021 Sell 3 850 Palma Kevin M Common stock
Show all Insider Trades
INSIDER POWER

10.343

Last 100 transactions
Buy: 2 303 926 | Sell: 222 762 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 2.08 5.05 %
2.03 2.54 %
2.00 0.99 %
Current price: 1.98
Support 1.90 -4.02 %
1.87 -5.57 %
1.82 -8.08 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 2.43 22.73 %
2.41 21.72 %
2.15 8.59 %
Current price 1.98
Support 1.97 -0.51%
1.94 -2.02%
1.93 -2.53%

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About ENGlobal Corporation

ENGlobal ENGlobal Corporation provides engineering and professional services primarily to the energy industry in the United States and internationally. It operates in two segments, Engineering, Procurement, and Construction Management; and Automation. The Engineering, Procurement, and Construction Management segment offers services relating to the development, management, and execution of projects requiring professional engineering and related project man... Read more

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