Enzon Pharmaceuticals stock upgraded to Hold/Accumulate.
(Updated on Nov 29, 2021)
Hold candidate since 2021-11-29 PDF
The Enzon Pharmaceuticals stock price fell by -3.08% on the last day (Monday, 29th Nov 2021) from $0.39 to $0.38. and has now fallen 3 days in a row. During the day the stock fluctuated 5.50% from a day low at $0.36 to a day high of $0.38. The price has fallen in 5 of the last 10 days, but is still up by 14.55% over the past 2 weeks. Volume has increased on the last day by 25 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 27 thousand shares were bought and sold for approximately $10.13 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.04% during the next 3 months and, with a 90% probability hold a price between $0.27 and $0.39 at the end of this 3-month period.
Signals & Forecast
The Enzon Pharmaceuticals stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $0.39. On a fall, the stock will find some support from the long-term average at approximately $0.35. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, November 17, 2021, and so far it has fallen -7.24%. 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.
Support, Risk & Stop-loss
Enzon Pharmaceuticals finds support from accumulated volume at $0.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0198 between high and low, or 5.50%. For the last week, the stock has had a daily average volatility of 4.11%.
Our recommended stop-loss: $0.36 (-4.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)
Is Enzon Pharmaceuticals stock A Buy?
Enzon Pharmaceuticals holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.185
Predicted Opening Price for Enzon Pharmaceuticals of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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