Energy Recovery Stock Forecast
Energy Recovery stock price ended at $13.70 on Tuesday, after losing 2.00%.
(Updated on Apr 16, 2024)
The Energy Recovery stock price fell by -2.00% on the last day (Tuesday, 16th Apr 2024) from $13.98 to $13.70. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.85% from a day low at $13.54 to a day high of $13.79. The price has fallen in 7 of the last 10 days and is down by -8.24% for this period. Volume has increased on the last day by 112 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, 295 thousand shares were bought and sold for approximately $4.05 million.
The stock lies in the middle of a 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 -9.43% during the next 3 months and, with a 90% probability hold a price between $11.88 and $13.85 at the end of this 3-month period.
ERII Signals & Forecast
There are few to no technical positive signals at the moment. The Energy Recovery stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.40 and $15.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -14.85%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Energy Recovery stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.250 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 4.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ERII) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Energy Recovery to open at $13.68, and during the day (based on 14 day Average True Range), to move between $13.06 and $14.34, which gives a possible trading interval of +/-$0.645 (+/-4.71%) up or down from last closing price. If Energy Recovery takes out the full calculated possible swing range there will be an estimated 9.41% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $14.82, some $1.12 (8.18%) from the current price of $13.70, our system finds the risk reward not very attractive.
Is Energy Recovery stock A Buy?
Energy Recovery holds several negative signals and is within a 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.
Current score: -3.324 Sell Candidate Unchanged
Predicted Opening Price for Energy Recovery of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $13.68 ( 0.170%) | $13.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.93 | 1.65 % | |
| R2 | 13.83 | 0.96 % | ||
| R1 | 13.77 | 0.527 % | ||
| Current price: | 13.70 | |||
| Support | S1 | 13.58 | -0.87 % | |
| S2 | 13.52 | -1.30 % | ||
| S3 | 13.43 | -2.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.98 | 23.94 % | |
| R2 | 15.11 | 10.29 % | ||
| R1 | 14.82 | 8.18 % | ||
| Current price | 13.70 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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