Red day on Friday for Evolving Systems
(Updated on Nov 26, 2021)

The Evolving Systems stock price fell by -2.88% on the last day (Friday, 26th Nov 2021) from $2.43 to $2.36. During the day the stock fluctuated 3.38% from a day low at $2.36 to a day high of $2.44. The price has fallen in 8 of the last 10 days and is down by -13.55% 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 -55 thousand shares and in total, 32 thousand shares were bought and sold for approximately $75.39 thousand.

Given the current short-term trend, the stock is expected to rise 25.13% during the next 3 months and, with a 90% probability hold a price between $2.95 and $3.85 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Evolving Systems stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.41 and $2.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, October 21, 2021, and so far it has fallen -16.61%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss

Evolving Systems finds support from accumulated volume at $2.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0798 between high and low, or 3.38%. For the last week the stock has had a daily average volatility of 3.99%.

Evolving Systems is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Evolving Systems stock A Buy?

The Evolving Systems stock holds several negative signals and despite the positive trend, we believe Evolving Systems will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.319

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