Enzon Pharmaceuticals Stock Forecast

Enzon Pharmaceuticals stock upgraded from Strong Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 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 $0.0780 and $0.0778. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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, April 12, 2024 and based on theory for this formation the price should fall by -5.67% to $0.0683 within 10 trading days since signal was issued (Monday, April 22, 2024).

Support, Risk & Stop-loss for Enzon Pharmaceuticals stock

Enzon Pharmaceuticals finds support from accumulated volume at $0.0700 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 7.19%

Our recommended stop-loss: $0.0694 (-4.06%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ENZN) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Enzon Pharmaceuticals to open at $0.0724, and during the day (based on 14 day Average True Range), to move between $0.0620 and $0.0827, which gives a possible trading interval of +/-$0.0103 (+/-14.26%) up or down from last closing price. If Enzon Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 28.52% 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 (3.26%) than the resistance at $0.0800 (10.56%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Monday, April 22, 2024

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