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Evofem Biosciences Inc. Stock Forecast NASDAQ:EVFM

$0.41 (5.21%)

Volume: 2M

Closed: Dec 07, 2021

Hollow Logo Score: -4.188

Evofem Biosciences Inc. Stock Forecast

$0.41 (5.21%)

Volume: 2M

Closed: Dec 07, 2021

Score Hollow Logo -4.188
Which way will EVFM go? Request
Key Stats
Beta 1.05
* 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 ] The Evofem Biosciences Inc. stock currently holds an RSI14 at 23 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

On Tuesday Evofem Biosciences Inc. stock price gained impressive 5.21%
(Updated on Dec 07, 2021)


Sell candidate since 2021-12-07

The Evofem Biosciences Inc. stock price gained 5.21% on the last trading day (Tuesday, 7th Dec 2021), rising from $0.39 to $0.41. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 5.13% from a day low at $0.39 to a day high of $0.41. The price has fallen in 6 of the last 10 days and is down by -14.8% for this period. Volume fell on the last day by -468 thousand shares and in total, 2 million shares were bought and sold for approximately $641.45 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a very 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 -41.84% during the next 3 months and, with a 90% probability hold a price between $0.22 and $0.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 7.02%. 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. The Evofem Biosciences Inc. 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 $0.41 and $0.58. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss

Evofem Biosciences Inc. finds support from accumulated volume at $0.39 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0200 between high and low, or 5.13%. For the last week the stock has had a daily average volatility of 8.01%.

Evofem Biosciences Inc. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Is Evofem Biosciences Inc. stock A Buy?

Evofem Biosciences Inc. holds several negative signals and is within a very 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: -4.188

Predicted Opening Price for Evofem Biosciences Inc. of Wednesday, December 8, 2021

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

Fair opening price December 8, 2021 Current price
$0.40 $0.41 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 16, 2021 "HC Wainwright" gave "$2.50 - $2.00" rating for EVFM. The price target was changed from $0.54 to 18.7%.

Volatility and Risk
Daily Average Volatility: 8.01 %
Overall Risk: Very High High Medium Low Very Low
Volatility
8.01 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $0.44
Price: $0.41
Support: $0.39

EVFM Insider Trading Show all Trades

INSIDER POWER

0.200

Last 100 transactions
Buy: 6 540 604 | Sell: 32 692 514 (Shares)
Date Action Amount Person Type
Jul 08, 2021 Sell 19 998 Barrans Russell Common Stock
Jun 18, 2021 Buy 10 000 Kamdar Kim P. Common Stock
Jun 14, 2021 Buy 8 140 O'brien Anthony Stephen Common Stock
Jun 11, 2021 Buy 5 000 Rarick Lisa Dale Common Stock
Jun 11, 2021 Buy 18 180 Barrans Russell Common Stock
Show all Insider Trades
INSIDER POWER

0.200

Last 100 transactions
Buy: 6 540 604 | Sell: 32 692 514 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 0.42 3.25 %
0.42 1.39 %
0.41 0.24 %
Current price: 0.41
Support 0.40 -3.49 %
0.39 -4.64 %
0.38 -6.50 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0.48 17.37 %
0.48 17.10 %
0.44 8.29 %
Current price 0.41
Support 0.39 -4.95%
0.38 -6.56%
0 .

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