Eyenovia Inc. Stock Forecast
A very strong day for Eyenovia Inc. stock price on Tuesday
(Updated on Jul 02, 2024)
The Eyenovia Inc. stock price gained 9.41% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.679 to $0.743. During the last trading day the stock fluctuated 9.83% from a day low at $0.691 to a day high of $0.759. The price has risen in 5 of the last 10 days and is up by 15.92% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 809 thousand shares were bought and sold for approximately $601.05 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Eyenovia Inc. stock with a 90% probability to be traded between $0.506 and $1.05 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EYEN Signals & Forecast
The Eyenovia 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 $0.665 and $0.721. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 25.03%. Further rise is indicated until a new top pivot has been found. 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. 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 also not.
Support, Risk & Stop-loss for Eyenovia Inc. stock
Eyenovia Inc. finds support from accumulated volume at $0.711 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0679 between high and low, or 9.83%. For the last week the stock has had daily average volatility of 13.46%.
Our recommended stop-loss: $0.718 (-3.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (EYEN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Eyenovia Inc. to open at $0.731, and during the day (based on 14 day Average True Range), to move between $0.664 and $0.82, which gives a possible trading interval of +/-$0.0785 (+/-10.56%) up or down from last closing price. If Eyenovia Inc. takes out the full calculated possible swing range there will be an estimated 21.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.711 (4.24%) than the resistance at $0.82 (10.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eyenovia Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Eyenovia Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.935 Buy Candidate Upgraded
Predicted Opening Price for Eyenovia Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.731 ( 1.60%) | $0.743 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EYEN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.799 | 7.54% |
| R2 | 0.773 | 4.05% |
| R1 | 0.757 | 1.89% |
| Price | 0.743 | |
| S1 | 0.705 | -5.09% |
| S2 | 0.689 | -7.25% |
| S3 | 0.663 | -10.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.92 | 23.18% |
| R2 | 0.87 | 17.72% |
| R1 | 0.82 | 10.51% |
| Price | 0.743 | |
| S1 | 0.711 | -4.24% |
| S2 | 0.615 | -17.19% |
| S3 | 0.594 | -20.02% |
FAQ
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