EVINE Live Inc. Stock Forecast
EVINE Live Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The EVINE Live Inc. stock price fell by -2.39% on the last day (Wednesday, 24th Apr 2024) from $4.19 to $4.09. During the last trading day the stock fluctuated 4.43% from a day low at $4.06 to a day high of $4.24. The price has fallen in 6 of the last 10 days and is down by -5.1% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -518 thousand shares and in total, 785 thousand shares were bought and sold for approximately $3.21 million.
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 -13.81% during the next 3 months and, with a 90% probability hold a price between $2.67 and $4.31 at the end of this 3-month period.
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EVLV Signals & Forecast
The EVINE Live 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 $3.96 and $4.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.79%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for EVINE Live Inc. stock
EVINE Live Inc. finds support from accumulated volume at $3.97 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 $0.180 between high and low, or 4.43%. For the last week, the stock has had daily average volatility of 6.51%.
Our recommended stop-loss: $3.91 (-4.42%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (EVLV) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect EVINE Live Inc. to open at $4.13, and during the day (based on 14 day Average True Range), to move between $3.81 and $4.37, which gives a possible trading interval of +/-$0.277 (+/-6.76%) up or down from last closing price. If EVINE Live Inc. takes out the full calculated possible swing range there will be an estimated 13.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.97 (2.93%) than the resistance at $4.41 (7.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EVINE Live Inc. stock A Buy?
EVINE Live 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. 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: 0.970 Hold/Accumulate Downgraded
Predicted Opening Price for EVINE Live Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $4.13 ( 0.98%) | $4.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVLV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.31 | 5.38 % | |
| R2 | 4.24 | 3.70 % | ||
| R1 | 4.20 | 2.66 % | ||
| Current price: | 4.09 | |||
| Support | S1 | 4.06 | -0.703 % | |
| S2 | 4.02 | -1.74 % | ||
| S3 | 3.95 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.11 | 24.94 % | |
| R2 | 4.45 | 8.80 % | ||
| R1 | 4.41 | 7.82 % | ||
| Current price | 4.09 | |||
| Support | S1 | 3.97 | -2.93% | |
| S2 | 3.69 | -9.78% | ||
| S3 | 3.63 | -11.25% |
FAQ
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