Epsilon Energy Ltd. Stock Forecast

Epsilon Energy Ltd. stock upgraded to Buy Candidate.
(Updated on May 02, 2024)

EPSN Signals & Forecast

The Epsilon Energy Ltd. 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 $5.42. On a fall, the stock will find some support from the long-term average at approximately $5.34. 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. Epsilon Energy Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Tuesday, April 09, 2024, and so far it has fallen -4.42%. 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). The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Epsilon Energy Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.01 and $5.00. 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, Epsilon Energy Ltd. finds support just below today's level at $5.01. If this is broken, then the next support from accumulated volume will be at $5.00 and $4.95.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.150 (2.86%) between high and low. For the last week, the stock has had daily average volatility of 2.70%.

Our recommended stop-loss: $5.17 (-4.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (EPSN) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Epsilon Energy Ltd. to open at $5.35, and during the day (based on 14 day Average True Range), to move between $5.23 and $5.57, which gives a possible trading interval of +/-$0.169 (+/-3.12%) up or down from last closing price. If Epsilon Energy Ltd. takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.49 (1.67%) than the support at $5.01 (7.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Epsilon Energy Ltd. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Epsilon Energy Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.737 Buy Candidate Upgraded

Predicted Opening Price for Epsilon Energy Ltd. of Friday, May 3, 2024

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