Engene Holdings Inc. Warrants Stock Forecast
Volatile ride for Engene Holdings Inc. Warrants stock price on Monday moving between $0.95 and $1.26
(Updated on Jun 24, 2024)
The Engene Holdings Inc. Warrants stock price fell by -7.87% on the last day (Monday, 24th Jun 2024) from $1.27 to $1.17. During the last trading day the stock fluctuated 32.63% from a day low at $0.95 to a day high of $1.26. The price has fallen in 6 of the last 10 days and is down by -26.88% for this period. 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 -14 thousand shares and in total, 5 thousand shares were bought and sold for approximately $5.84 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -72.60% during the next 3 months and, with a 90% probability hold a price between $0.164 and $0.439 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.
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ENGNW 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 Engene Holdings Inc. Warrants 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 $1.35 and $2.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -31.18%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Engene Holdings Inc. Warrants stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.310 between high and low, or 32.63%. For the last week the stock has had daily average volatility of 16.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENGNW) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Engene Holdings Inc. Warrants to open at $1.13, and during the day (based on 14 day Average True Range), to move between $0.81 and $1.53, which gives a possible trading interval of +/-$0.360 (+/-30.81%) up or down from last closing price. If Engene Holdings Inc. Warrants takes out the full calculated possible swing range there will be an estimated 61.61% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.27, some $0.100 (8.55%) from the current price of $1.17, our system finds the risk reward not very attractive.
Is Engene Holdings Inc. Warrants stock A Buy?
Engene Holdings Inc. Warrants holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.611 Strong Sell Candidate Downgraded
Predicted Opening Price for Engene Holdings Inc. Warrants of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $1.13 ( 3.70%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENGNW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.44 | 22.79% |
| R2 | 1.32 | 12.67% |
| R1 | 1.25 | 6.42% |
| Price | 1.17 | |
| S1 | 1.01 | -13.83% |
| S2 | 0.94 | -20.08% |
| S3 | 0.82 | -30.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.45 | 23.92% |
| R2 | 1.32 | 12.82% |
| R1 | 1.27 | 8.55% |
| Price | 1.17 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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