Evolve Education Group Limited Stock Forecast

Evolve Education Group Limited stock price down 0% on Wednesday
(Updated on May 22, 2024)

EVO.AX Signals & Forecast

The Evolve Education Group Limited 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 $0.689 and $0.684. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Evolve Education Group Limited stock

Evolve Education Group Limited finds support from accumulated volume at $0.670 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 $0.0200 between high and low, or 2.94%. For the last week the stock has had daily average volatility of 2.52%.

Our recommended stop-loss: $0.660 (-4.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (EVO.AX) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Evolve Education Group Limited to open at $0.690, and during the day (based on 14 day Average True Range), to move between $0.674 and $0.706, which gives a possible trading interval of +/-$0.0157 (+/-2.28%) up or down from last closing price. If Evolve Education Group Limited takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.695 (0.72%) than the support at $0.670 (2.90%), 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 Evolve Education Group Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Evolve Education Group Limited stock to perform well in the short-term.

Current score: 2.851 Buy Candidate Unchanged

Predicted Opening Price for Evolve Education Group Limited of Thursday, May 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.