Red day on Friday for Euroseas Ltd.
(Updated on Nov 26, 2021)

The Euroseas Ltd. stock price fell by -1.38% on the last day (Friday, 26th Nov 2021) from $25.29 to $24.94. During the day the stock fluctuated 6.45% from a day low at $23.71 to a day high of $25.24. The price has fallen in 7 of the last 10 days and is down by -32.59% for this period. 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 -28 thousand shares and in total, 80 thousand shares were bought and sold for approximately $1.99 million.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.7% during the next 3 months and, with a 90% probability hold a price between $25.16 and $40.66 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Euroseas Ltd. 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 $25.77 and $30.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 23, 2021, and so far it has fallen -34.73%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

Euroseas Ltd. finds support from accumulated volume at $24.34 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 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 $1.53 between high and low, or 6.45%. For the last week, the stock has had a daily average volatility of 7.20%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Euroseas Ltd. stock A Buy?

The Euroseas Ltd. stock holds several negative signals and despite the positive trend, we believe Euroseas Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.576

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