Evelo Biosciences Inc. 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
A very strong day for Evelo Biosciences Inc. stock price on Tuesday
(Updated on Apr 30, 2024)
The Evelo Biosciences Inc. stock price gained 18.14% on the last trading day (Tuesday, 30th Apr 2024), rising from $0.0419 to $0.0495. During the last trading day the stock fluctuated 0% from a day low at $0.0495 to a day high of $0.0495. The price has been going up and down for this period, and there has been a 7.61% gain for the last 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 313 shares were bought and sold for approximately $15.49 . 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 -5.81% during the next 3 months and, with a 90% probability hold a price between $0.0319 and $0.0629 at the end of this 3-month period.
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EVLO Signals & Forecast
The Evelo Biosciences Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0453 and $0.0487. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -1.98%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Evelo Biosciences Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0450 and $0.0435. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Evelo Biosciences Inc. finds support just below today's level at $0.0450. If this is broken, then the next support from accumulated volume will be at $0.0435 and $0.0424.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 9.67%.
Our recommended stop-loss: $0.0477 (-3.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (EVLO) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Evelo Biosciences Inc. to open at $0.0495, and during the day (based on 14 day Average True Range), to move between $0.0398 and $0.0592, which gives a possible trading interval of +/-$0.0097 (+/-19.55%) up or down from last closing price. If Evelo Biosciences Inc. takes out the full calculated possible swing range there will be an estimated 39.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0500 (1.01%) than the support at $0.0450 (9.09%), 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 Evelo Biosciences Inc. stock A Buy?
Evelo Biosciences Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.028 Hold/Accumulate Upgraded
Predicted Opening Price for Evelo Biosciences Inc. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $0.0495 ( 0.00000000%) | $0.0495 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0495 | 0.00000000 % | |
| R2 | 0.0495 | 0.00000000 % | ||
| R1 | 0.0495 | 0.00000000 % | ||
| Current price: | 0.0495 | |||
| Support | S1 | 0.0495 | 0.00000000 % | |
| S2 | 0.0495 | 0.00000000 % | ||
| S3 | 0.0495 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0600 | 21.21 % | |
| R2 | 0.0530 | 7.07 % | ||
| R1 | 0.0500 | 1.01 % | ||
| Current price | 0.0495 | |||
| Support | S1 | 0.0450 | -9.09% | |
| S2 | 0.0435 | -12.12% | ||
| S3 | 0.0424 | -14.34% |
FAQ
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