Evogene Ltd Stock Forecast
Green day on Wednesday for Evogene Ltd stock after gaining 2.37%
(Updated on May 01, 2024)
The Evogene Ltd stock price gained 2.37% on the last trading day (Wednesday, 1st May 2024), rising from $0.699 to $0.716. It 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 last trading day the stock fluctuated 8.89% from a day low at $0.672 to a day high of $0.732. The price has risen in 6 of the last 10 days and is up by 4.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 40 thousand more shares were traded than the day before. In total, 103 thousand shares were bought and sold for approximately $74.05 thousand.
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 -16.32% during the next 3 months and, with a 90% probability hold a price between $0.494 and $0.723 at the end of this 3-month period.
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EVGN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 16.93%. Further rise is indicated until a new top pivot has been found. Evogene Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Evogene Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.732. On a fall, the stock will find some support from the short-term average at $0.668. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Evogene Ltd stock
Evogene Ltd finds support from accumulated volume at $0.686 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0597 between high and low, or 8.89%. For the last week, the stock has had daily average volatility of 7.26%.
Our recommended stop-loss: $0.686 (-4.08%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (EVGN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Evogene Ltd to open at $0.706, and during the day (based on 14 day Average True Range), to move between $0.668 and $0.764, which gives a possible trading interval of +/-$0.0481 (+/-6.72%) up or down from last closing price. If Evogene Ltd takes out the full calculated possible swing range there will be an estimated 13.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.730 (2.01%) than the support at $0.686 (4.09%), 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 Evogene Ltd stock A Buy?
Evogene Ltd 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.
Current score: 0.082 Hold/Accumulate Unchanged
Predicted Opening Price for Evogene Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.706 ( 1.30%) | $0.716 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.766 | 7.04 % | |
| R2 | 0.743 | 3.86 % | ||
| R1 | 0.729 | 1.89 % | ||
| Current price: | 0.716 | |||
| Support | S1 | 0.683 | -4.49 % | |
| S2 | 0.669 | -6.46 % | ||
| S3 | 0.647 | -9.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.771 | 7.67 % | |
| R2 | 0.760 | 6.20 % | ||
| R1 | 0.730 | 2.01 % | ||
| Current price | 0.716 | |||
| Support | S1 | 0.686 | -4.09% | |
| S2 | 0.641 | -10.45% | ||
| S3 | 0.625 | -12.65% |
FAQ
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