Enzon Pharmaceuticals Stock Forecast

Volatile ride for Enzon Pharmaceuticals stock price on Monday moving between $0.0647 and $0.0880
(Updated on Apr 15, 2024)

ENZN 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 Enzon Pharmaceuticals stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0859 and $0.0783. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -21.10%. Further fall is indicated until a new bottom pivot has been found. Enzon Pharmaceuticals gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, February 02, 2024 and based on theory for this formation the price should fall by -8.24% to $0.0686 within 11 trading days since signal was issued (Tuesday, April 16, 2024).

Support, Risk & Stop-loss for Enzon Pharmaceuticals stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0700 and $0.0620. 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, Enzon Pharmaceuticals finds support just below today's level at $0.0700. If this is broken, then the next support from accumulated volume will be at $0.0620 and $0.0600.

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 $0.0233 between high and low, or 35.94%. For the last week, the stock has had daily average volatility of 16.37%.

Our recommended stop-loss: $0.0711 (-4.98%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ENZN) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Enzon Pharmaceuticals to open at $0.0758, and during the day (based on 14 day Average True Range), to move between $0.0622 and $0.0874, which gives a possible trading interval of +/-$0.0126 (+/-16.79%) up or down from last closing price. If Enzon Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 33.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0700 (6.42%) than the resistance at $0.0800 (6.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Enzon Pharmaceuticals stock A Buy?

Enzon Pharmaceuticals holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Enzon Pharmaceuticals of Tuesday, April 16, 2024

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