Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ENG
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ENGlobal Corporation stock price ended at $1.72 on Thursday, after losing 2.51%.
(Updated on Mar 28, 2024)

Buy candidate since Mar 15, 2024 Loss -0.24% PDF

The ENGlobal Corporation stock price fell by -2.51% on the last day (Thursday, 28th Mar 2024) from $1.76 to $1.72. During the last trading day the stock fluctuated 7.54% from a day low at $1.60 to a day high of $1.72. The price has fallen in 5 of the last 10 days but is still up by 5.91% over the past 2 weeks. Volume has increased on the last day by 11 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, 22 thousand shares were bought and sold for approximately $38.09 thousand.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.91% during the next 3 months and, with a 90% probability hold a price between $1.44 and $2.53 at the end of this 3-month period.

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ENG Signals & Forecast

The ENGlobal Corporation 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 $1.70 and $1.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 5.91%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ENGlobal Corporation 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 ENGlobal Corporation stock

ENGlobal Corporation finds support from accumulated volume at $1.69 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 $0.120 between high and low, or 7.54%. For the last week, the stock has had daily average volatility of 8.69%.

Our recommended stop-loss: $1.65 (-3.98%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (ENG) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect ENGlobal Corporation to open at $1.68, and during the day (based on 14 day Average True Range), to move between $1.54 and $1.89, which gives a possible trading interval of +/-$0.177 (+/-10.33%) up or down from last closing price. If ENGlobal Corporation takes out the full calculated possible swing range there will be an estimated 20.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.69 (1.27%) than the resistance at $1.75 (1.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ENGlobal Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ENGlobal Corporation stock to perform well in the short-term.

Current score: 2.181 Buy Candidate Unchanged

Predicted Opening Price for ENGlobal Corporation of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$1.68 ( 2.34%) $1.72

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

Trading levels for ENG

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.80 4.67 %
R2 1.75 2.00 %
R1 1.72 0.341 %
Current price: 1.72
Support S1 1.63 -5.02 %
S2 1.60 -6.67 %
S3 1.56 -9.35 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1.97 14.82 %
R2 1.81 5.49 %
R1 1.75 1.99 %
Current price 1.72
Support S1 1.69 -1.27%
S2 1.60 -6.75%
S3 1.48 -13.74%

FAQ

What is the symbol for ENGlobal Corporation Stock and on which exchange is it traded?
The symbol for ENGlobal Corporation is ENG and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell ENGlobal Corporation Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ENGlobal Corporation stock to perform well in the short-term.

How to buy ENGlobal Corporation Stock?
ENGlobal Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy ENGlobal Corporation Stock.

What's the current price of ENGlobal Corporation Stock?
As of the end of day on the 2024-03-28, the price of an ENGlobal Corporation (ENG) share was $1.72.

What is the 52-week high and low for ENGlobal Corporation Stock?
The 52-week high for ENGlobal Corporation Stock is $2.30 and the 52-week low is $0.240.

What is the market capitalization of ENGlobal Corporation Stock?
As of the 2024-03-28, the market capitalization of ENGlobal Corporation is 8.793M.

When is the next earnings date for ENGlobal Corporation?
The upcoming earnings date for ENGlobal Corporation is May 14, 2024.
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About ENGlobal Corporation

ENGlobal ENGlobal Corporation provides engineering and professional project execution services primarily to the energy sector in the United States and internationally. It operates through two segments, Commercial and Government Services. The Commercial segment provides multi-disciplined engineering services relating to the development, management, and execution of projects requiring professional engineering and related project management services. It offe... ENG Profile

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