Evaxion Biotech A/S Stock Forecast

Weaker technical forecast for Evaxion Biotech A/S as stock downgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)

EVAX Signals & Forecast

The Evaxion Biotech A/S 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 $4.16. On a fall, the stock will find some support from the long-term average at approximately $3.52. 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. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 42.41%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Evaxion Biotech A/S stock

Evaxion Biotech A/S finds support from accumulated volume at $3.99 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 3.21%. For the last week the stock has had daily average volatility of 4.63%.

Our recommended stop-loss: $3.98 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (EVAX) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Evaxion Biotech A/S to open at $4.12, and during the day (based on 14 day Average True Range), to move between $3.85 and $4.41, which gives a possible trading interval of +/-$0.281 (+/-6.81%) up or down from last closing price. If Evaxion Biotech A/S takes out the full calculated possible swing range there will be an estimated 13.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $4.21 (1.94%) than the support at $3.99 (3.39%), 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 Evaxion Biotech A/S stock A Buy?

Evaxion Biotech A/S 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 Buy to a Hold/Accumulate candidate.

Current score: 0.893 Hold/Accumulate Downgraded

Predicted Opening Price for Evaxion Biotech A/S of Thursday, April 25, 2024

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