Evolv Technologies Holdings, Inc. Stock Forecast
High volatility in Evolv Technologies Holdings, Inc. stock price on Wednesday which ended trading at $0.270
(Updated on Jun 26, 2024)
The Evolv Technologies Holdings, Inc. stock price gained 17.17% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.230 to $0.270. During the last trading day the stock fluctuated 23.74% from a day low at $0.218 to a day high of $0.270. The price has been going up and down for this period, and there has been a 12.29% gain for the last 2 weeks. Volume fell on the last day by -62 thousand shares and in total, 11 thousand shares were bought and sold for approximately $2.97 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.325 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
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EVLVW Signals & Forecast
There are mixed signals in the stock today. The Evolv Technologies Holdings, Inc. 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 $0.270. On a fall, the stock will find some support from the short-term average at $0.233. 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). 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. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 34.75%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Evolv Technologies Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.240 and $0.230. 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, Evolv Technologies Holdings, Inc. finds support just below today's level at $0.240. If this is broken, then the next support from accumulated volume will be at $0.230 and $0.206.
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 $0.0517 between high and low, or 23.74%. For the last week the stock has had daily average volatility of 19.85%.
Our recommended stop-loss: $0.260 (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 55 days ago.)
Trading Expectations (EVLVW) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Evolv Technologies Holdings, Inc. to open at $0.252, and during the day (based on 14 day Average True Range), to move between $0.226 and $0.313, which gives a possible trading interval of +/-$0.0430 (+/-15.97%) up or down from last closing price. If Evolv Technologies Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 31.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.270 (0.19%) than the support at $0.240 (10.95%), 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 Evolv Technologies Holdings, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.006 Buy Candidate Upgraded
Predicted Opening Price for Evolv Technologies Holdings, Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.252 ( 6.39%) | $0.270 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVLVW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.304 | 12.79% |
| R2 | 0.284 | 5.46% |
| R1 | 0.272 | 0.93% |
| Price | 0.270 | |
| S1 | 0.233 | -13.72% |
| S2 | 0.220 | -18.25% |
| S3 | 0.201 | -25.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.300 | 11.32% |
| R2 | 0.280 | 3.90% |
| R1 | 0.270 | 0.186% |
| Price | 0.270 | |
| S1 | 0.240 | -10.95% |
| S2 | 0.230 | -14.66% |
| S3 | 0.206 | -23.56% |
FAQ
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