Enzolytics Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Enzolytics stock price on Tuesday which ended trading at $0.0047
(Updated on May 07, 2024)
The Enzolytics stock price gained 9.30% on the last trading day (Tuesday, 7th May 2024), rising from $0.0043 to $0.0047. During the last trading day the stock fluctuated 27.50% from a day low at $0.0040 to a day high of $0.0051. The price has risen in 6 of the last 10 days and is up by 12.44% over the past 2 weeks. Volume fell on the last day by -12 million shares and in total, 10 million shares were bought and sold for approximately $47.29 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0044, a level that may pose a second chance to hit a runner. According to fan-theory $0.0084 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ENZC Signals & Forecast
There are mixed signals in the stock today. The Enzolytics 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 $0.0072. On a fall, the stock will find some support from the short-term average at $0.0046. 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. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -11.32%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Enzolytics stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0044 and $0.0043. 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, Enzolytics finds support just below today's level at $0.0044. If this is broken, then the next support from accumulated volume will be at $0.0043 and $0.0042.
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 $0.0011 between high and low, or 27.50%. For the last week the stock has had daily average volatility of 34.63%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Enzolytics Inc to open at $0.0046, and during the day (based on 14 day Average True Range), to move between $0.0032 and $0.0062, which gives a possible trading interval of +/-$0.0015 (+/-31.71%) up or down from last closing price. If Enzolytics Inc takes out the full calculated possible swing range there will be an estimated 63.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0049 (3.40%) than the support at $0.0044 (6.38%), 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 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: -5.875 Strong Sell Candidate Unchanged
Predicted Opening Price for Enzolytics Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.0046 ( 2.13%) | $0.0047 |
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 | 0.0057 | 21.28 % | |
| R2 | 0.0053 | 12.34 % | ||
| R1 | 0.0050 | 6.81 % | ||
| Current price: | 0.0047 | |||
| Support | S1 | 0.0042 | -11.07 % | |
| S2 | 0.0039 | -16.59 % | ||
| S3 | 0.0035 | -25.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0056 | 18.30 % | |
| R2 | 0.0052 | 10.64 % | ||
| R1 | 0.0049 | 3.40 % | ||
| Current price | 0.0047 | |||
| Support | S1 | 0.0044 | -6.38% | |
| S2 | 0.0043 | -8.51% | ||
| S3 | 0.0042 | -11.06% |
FAQ
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