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Euroseas Ltd. Stock Forecast NASDAQ:ESEA

$24.94 (-1.38%)

Volume: 80k

Closed: Nov 26, 2021

Hollow Logo Score: -2.576

Euroseas Ltd. Stock Forecast

$24.94 (-1.38%)

Volume: 80k

Closed: Nov 26, 2021

Score Hollow Logo -2.576
Which way will ESEA go? Request
Key Stats
P/E Ratio 8.73
Beta 1.63
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 36 and the stock is currently not being overbought or oversold

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


Sell candidate since 2021-11-16 Loss -6.84%

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

Predicted Opening Price for Euroseas Ltd. of Monday, November 29, 2021

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

Fair opening price November 29, 2021 Current price
$24.63 $24.94 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Sep 09, 2021 "Maxim Group" gave "$38.00 - $42.00" rating for ESEA. The price target was set to $26.10+4.6%.

Volatility and Risk
Daily Average Volatility: 7.20 %
Overall Risk: Very High High Medium Low Very Low
Volatility
7.20 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $26.77
Price: $24.94
Support: $24.34

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 26.16 4.89 %
25.58 2.55 %
25.21 1.10 %
Current price: 24.94
Support 24.05 -3.59 %
23.68 -5.03 %
23.10 -7.38 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 30.72 23.18 %
30.47 22.17 %
26.77 7.34 %
Current price 24.94
Support 24.34 -2.41%
23.72 -4.89%
23.00 -7.78%

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About Euroseas Ltd.

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of April 1, 2016, it had a fleet of seven containerships; and five drybulk carriers comprised of three Panamax drybulk carriers... Read more

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