Eos Energy Enterprises Inc Stock Forecast

High volatility in Eos Energy Enterprises Inc stock price on Tuesday which ended trading at $1.55
(Updated on Jul 02, 2024)

EOSE Signals & Forecast

The Eos Energy Enterprises Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.33 and $0.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 102.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Eos Energy Enterprises Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.36 and $1.32. 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, Eos Energy Enterprises Inc finds support just below today's level at $1.36. If this is broken, then the next support from accumulated volume will be at $1.32 and $1.27.

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 $0.220 between high and low, or 15.71%. For the last week, the stock has had daily average volatility of 14.94%.

Our recommended stop-loss: $1.50 (-3.02%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (EOSE) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Eos Energy Enterprises Inc to open at $1.52, and during the day (based on 14 day Average True Range), to move between $1.40 and $1.70, which gives a possible trading interval of +/-$0.145 (+/-9.37%) up or down from last closing price. If Eos Energy Enterprises Inc takes out the full calculated possible swing range there will be an estimated 18.73% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $1.36, some $0.190 (12.26%) from the current price of $1.55, our system finds the risk reward attractive.

Is Eos Energy Enterprises Inc stock A Buy?

Eos Energy Enterprises Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Eos Energy Enterprises Inc of Wednesday, July 3, 2024

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