Entropic Communications, Inc ETF Forecast

Entropic Communications, Inc ETF upgraded to Buy Candidate.
(Updated on May 03, 2024)

ENTR Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.58%. 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). Entropic Communications, 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 Entropic Communications, Inc ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $15.04. On a fall, the ETF will find some support from the short-term average at $14.70. 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 Entropic Communications, Inc ETF

Entropic Communications, Inc finds support from accumulated volume at $14.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.0317 between high and low, or 0.215%. For the last week, the ETF has had daily average volatility of 0.636%.

Our recommended stop-loss: $14.00 (-5.10%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (ENTR) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Entropic Communications, Inc to open at $14.76, and during the day (based on 14 day Average True Range), to move between $14.51 and $14.99, which gives a possible trading interval of +/-$0.239 (+/-1.62%) up or down from last closing price. If Entropic Communications, Inc takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $15.00 (1.71%) than the support at $14.25 (3.37%), 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 Entropic Communications, Inc ETF 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 Entropic Communications, Inc ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 3.308 Buy Candidate Upgraded

Predicted Opening Price for Entropic Communications, Inc of Monday, May 6, 2024

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