Engene Holdings Inc. Warrants Stock Forecast
High volatility in Engene Holdings Inc. Warrants stock price on Friday which ended trading at $1.19
(Updated on Jun 28, 2024)
The Engene Holdings Inc. Warrants stock price gained 2.59% on the last trading day (Friday, 28th Jun 2024), rising from $1.16 to $1.19. During the last trading day the stock fluctuated 17.65% from a day low at $1.19 to a day high of $1.40. The price has fallen in 5 of the last 10 days and is down by -23.72% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 744 more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $3.91 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 -69.70% during the next 3 months and, with a 90% probability hold a price between $0.233 and $0.560 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
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 27.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Engene Holdings Inc. Warrants has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.52. On a fall, the stock will find some support from the short-term average at $1.18. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Engene Holdings Inc. Warrants stock
Engene Holdings Inc. Warrants finds support from accumulated volume at $1.17 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 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 $0.210 between high and low, or 17.65%. For the last week, the stock has had daily average volatility of 17.91%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Engene Holdings Inc. Warrants to open at $1.26, and during the day (based on 14 day Average True Range), to move between $0.87 and $1.51, which gives a possible trading interval of +/-$0.324 (+/-27.22%) 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 54.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.17 (1.68%) than the resistance at $1.27 (6.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Engene Holdings Inc. Warrants stock A Buy?
Engene Holdings Inc. Warrants holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.118 Sell Candidate Unchanged
Predicted Opening Price for Engene Holdings Inc. Warrants of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $1.26 ( 5.88%) | $1.19 |
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 | 1.47 | 23.53% |
| R2 | 1.39 | 16.79% |
| R1 | 1.34 | 12.62% |
| Price | 1.19 | |
| S1 | 1.18 | -0.86% |
| S2 | 1.13 | -5.02% |
| S3 | 1.05 | -11.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.45 | 21.84% |
| R2 | 1.32 | 10.92% |
| R1 | 1.27 | 6.72% |
| Price | 1.19 | |
| S1 | 1.17 | -1.68% |
| S2 | 1.16 | -2.52% |
| S3 | 0.93 | -21.85% |
FAQ
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