Evergreen Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evergreen Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 18, 2024)
The Evergreen Corporation stock price gained 0.0873% on the last trading day (Tuesday, 18th Jun 2024), rising from $11.46 to $11.47. During the last trading day the stock fluctuated 0% from a day low at $11.47 to a day high of $11.47. The price has been going up and down for this period, and there has been a 0.26% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 262 more shares were traded than the day before. In total, 454 shares were bought and sold for approximately $5.21 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Evergreen Corporation stock with a 90% probability to be traded between $11.59 and $11.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EVGR Signals & Forecast
The Evergreen Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.45 and $11.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.702%. Further rise is indicated until a new top pivot has been found. Evergreen Corporation 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, April 08, 2024 with a target of $11.36. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Evergreen Corporation stock
Evergreen Corporation finds support from accumulated volume at $11.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0349%.
Our recommended stop-loss: $10.68 (-6.85%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (EVGR) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Evergreen Corporation to open at $11.47, and during the day (based on 14 day Average True Range), to move between $11.46 and $11.48, which gives a possible trading interval of +/-$0.0100 (+/-0.09%) up or down from last closing price. If Evergreen Corporation takes out the full calculated possible swing range there will be an estimated 0.17% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.46, some $0.0100 (0.09%) from the current price of $11.47, our system finds the risk reward attractive.
Is Evergreen Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Evergreen Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.823 Buy Candidate Upgraded
Predicted Opening Price for Evergreen Corporation of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $11.47 ( 0%) | $11.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVGR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.47 | - |
| R2 | 11.47 | - |
| R1 | 11.47 | - |
| Price | 11.47 | |
| S1 | 11.47 | - |
| S2 | 11.47 | - |
| S3 | 11.47 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 11.47 | |
| S1 | 11.46 | -0.0872% |
| S2 | 11.43 | -0.349% |
| S3 | 11.39 | -0.697% |
FAQ
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