Enzolytics Stock Forecast
Big movements in Enzolytics stock price on Wednesday moving 38.89% between high and low
(Updated on May 08, 2024)
The Enzolytics stock price fell by -15.74% on the last day (Wednesday, 8th May 2024) from $0.0047 to $0.0040. During the last trading day the stock fluctuated 38.89% from a day low at $0.0036 to a day high of $0.0050. The price has been going up and down for this period, and there has been a -7.91% loss for the last 2 weeks. 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 -3 million shares and in total, 7 million shares were bought and sold for approximately $28.88 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0041 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -77.97% during the next 3 months and, with a 90% probability hold a price between $0.00000871 and $0.0009 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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ENZC 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 Enzolytics 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 $0.0045 and $0.0071. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -25.28%. 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 Enzolytics stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0035. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0014 between high and low, or 38.89%. For the last week the stock has had daily average volatility of 39.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENZC) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Enzolytics Inc to open at $0.0042, and during the day (based on 14 day Average True Range), to move between $0.0025 and $0.0054, which gives a possible trading interval of +/-$0.0015 (+/-37.48%) up or down from last closing price. If Enzolytics Inc takes out the full calculated possible swing range there will be an estimated 74.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0042 (5.56%) than the support at $0.0035 (11.62%), 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 Enzolytics Inc stock A Buy?
Enzolytics 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.
Current score: -6.491 Strong Sell Candidate Unchanged
Predicted Opening Price for Enzolytics Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.0042 ( 5.72%) | $0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENZC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0056 | 41.08 % | |
| R2 | 0.0051 | 27.57 % | ||
| R1 | 0.0047 | 19.23 % | ||
| Current price: | 0.0040 | |||
| Support | S1 | 0.0037 | -7.78 % | |
| S2 | 0.0033 | -16.12 % | ||
| S3 | 0.0028 | -29.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0044 | 11.11 % | |
| R2 | 0.0043 | 8.59 % | ||
| R1 | 0.0042 | 5.56 % | ||
| Current price | 0.0040 | |||
| Support | S1 | 0.0035 | -11.62% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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