Ese Entertainment Inc Stock Forecast
Volatile ride for Ese Entertainment Inc stock price on Friday moving between $0.0650 and $0.0826
(Updated on May 17, 2024)
The Ese Entertainment Inc stock price gained 3.46% on the last trading day (Friday, 17th May 2024), rising from $0.0751 to $0.0777. During the last trading day the stock fluctuated 27.08% from a day low at $0.0650 to a day high of $0.0826. The price has fallen in 6 of the last 10 days and is down by -12.6% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 75 thousand more shares were traded than the day before. In total, 101 thousand shares were bought and sold for approximately $7.81 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0777 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 62.73% during the next 3 months and, with a 90% probability hold a price between $0.126 and $0.197 at the end of this 3-month period.
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ENTEF Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ese Entertainment Inc 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 Ese Entertainment Inc 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 $0.0818 and $0.0863. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -16.27%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ese Entertainment Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0703 and $0.0697. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ese Entertainment Inc finds support just below today's level at $0.0703. If this is broken, then the next support from accumulated volume will be at $0.0697 and $0.0671.
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 $0.0176 between high and low, or 27.08%. For the last week, the stock has had daily average volatility of 14.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENTEF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ese Entertainment Inc to open at $0.0751, and during the day (based on 14 day Average True Range), to move between $0.0676 and $0.0878, which gives a possible trading interval of +/-$0.0101 (+/-13.00%) up or down from last closing price. If Ese Entertainment Inc takes out the full calculated possible swing range there will be an estimated 26.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0815 (4.89%) than the support at $0.0703 (9.52%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ese Entertainment Inc stock A Buy?
The Ese Entertainment Inc stock holds several negative signals and despite the positive trend, we believe Ese Entertainment Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.265 Sell Candidate Unchanged
Predicted Opening Price for Ese Entertainment Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0751 ( 3.35%) | $0.0777 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENTEF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0927 | 19.31 % | |
| R2 | 0.0860 | 10.65 % | ||
| R1 | 0.0818 | 5.31 % | ||
| Current price: | 0.0777 | |||
| Support | S1 | 0.0684 | -12.00 % | |
| S2 | 0.0642 | -17.34 % | ||
| S3 | 0.0575 | -26.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0966 | 24.32 % | |
| R2 | 0.0893 | 14.93 % | ||
| R1 | 0.0815 | 4.89 % | ||
| Current price | 0.0777 | |||
| Support | S1 | 0.0703 | -9.52% | |
| S2 | 0.0697 | -10.30% | ||
| S3 | 0.0671 | -13.64% |
FAQ
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