Enzon Pharmaceuticals Stock Forecast
A very red day for Enzon Pharmaceuticals stock price after a -11.56% fall in the Thursday trading session
(Updated on May 02, 2024)
The Enzon Pharmaceuticals stock price fell by -11.56% on the last day (Thursday, 2nd May 2024) from $0.0848 to $0.0750. During the last trading day the stock fluctuated 0% from a day low at $0.0750 to a day high of $0.0750. The price has been going up and down for this period, and there has been a 3.65% gain 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 -29 thousand shares and in total, 5 thousand shares were bought and sold for approximately $375.00 .
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 -7.93% during the next 3 months and, with a 90% probability hold a price between $0.0515 and $0.0856 at the end of this 3-month period.
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ENZN Signals & Forecast
There are few to no technical positive signals at the moment. 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 $0.0823 and $0.0788. 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 -20.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
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 -8.99% to $0.0683 within 10 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Enzon Pharmaceuticals stock
Enzon Pharmaceuticals finds support from accumulated volume at $0.0748 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 periodic low trading volume this stock is considered to be "very high risk". 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 5.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENZN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Enzon Pharmaceuticals to open at $0.0750, and during the day (based on 14 day Average True Range), to move between $0.0668 and $0.0832, which gives a possible trading interval of +/-$0.0082 (+/-10.92%) up or down from last closing price. If Enzon Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 21.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0748 (0.27%) than the resistance at $0.0800 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Enzon Pharmaceuticals will release earnings -- on Monday, May 06, 2024. We will update the financials statements for Enzon Pharmaceuticals, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.42% in the first trading day after earnings release.
Is Enzon Pharmaceuticals stock A Buy?
Enzon Pharmaceuticals 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.013 Strong Sell Candidate Downgraded
Predicted Opening Price for Enzon Pharmaceuticals of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0750 ( 0%) | $0.0750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENZN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0750 | . | |
| R2 | 0.0750 | . | ||
| R1 | 0.0750 | . | ||
| Current price: | 0.0750 | |||
| Support | S1 | 0.0750 | . | |
| S2 | 0.0750 | . | ||
| S3 | 0.0750 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0836 | 11.40 % | |
| R2 | 0.0828 | 10.40 % | ||
| R1 | 0.0800 | 6.67 % | ||
| Current price | 0.0750 | |||
| Support | S1 | 0.0748 | -0.267% | |
| S2 | 0.0700 | -6.67% | ||
| S3 | 0.0600 | -20.00% |
ENZN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 30, 2019 | Sep 30, 2019 | Oct 15, 2019 | $0.120 | 52.17% |
| 2 | Feb 20, 2019 | Feb 20, 2019 | Feb 20, 2019 | $0.0600 | 26.09% |
| 3 | Sep 29, 2017 | Sep 29, 2017 | Sep 29, 2017 | $0.150 | 62.51% |
| 4 | Dec 13, 2016 | Dec 13, 2016 | Dec 13, 2016 | $0.150 | 44.72% |
| 5 | Dec 30, 2015 | Dec 30, 2015 | Dec 30, 2015 | $0.250 | 36.23% |
FAQ
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