Forza X1, Inc. Stock Forecast
Red day on Friday for Forza X1, Inc. stock after losing 0.707%
(Updated on May 03, 2024)
The Forza X1, Inc. stock price fell by -0.707% on the last day (Friday, 3rd May 2024) from $0.410 to $0.408. During the last trading day the stock fluctuated 7.69% from a day low at $0.390 to a day high of $0.420. The price has been going up and down for this period, and there has been a -5.67% loss for the last 2 weeks. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 thousand shares were bought and sold for approximately $7.58 thousand.
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 $0.419 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -29.21% during the next 3 months and, with a 90% probability hold a price between $0.237 and $0.297 at the end of this 3-month period. 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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FRZA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 1.52%. 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. The Forza X1, Inc. 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 $0.409 and $0.455. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Forza X1, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Forza X1, Inc. stock
Forza X1, Inc. finds support from accumulated volume at $0.407 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0300 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 9.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRZA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Forza X1, Inc. to open at $0.406, and during the day (based on 14 day Average True Range), to move between $0.368 and $0.447, which gives a possible trading interval of +/-$0.0398 (+/-9.77%) up or down from last closing price. If Forza X1, Inc. takes out the full calculated possible swing range there will be an estimated 19.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.407 (0.15%) than the resistance at $0.429 (5.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Forza X1, Inc. stock A Buy?
Forza X1, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.102 Sell Candidate Unchanged
Predicted Opening Price for Forza X1, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.406 ( 0.409%) | $0.408 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRZA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.436 | 6.95 % | |
| R2 | 0.424 | 4.14 % | ||
| R1 | 0.417 | 2.40 % | ||
| Current price: | 0.408 | |||
| Support | S1 | 0.394 | -3.22 % | |
| S2 | 0.387 | -4.96 % | ||
| S3 | 0.376 | -7.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.473 | 16.07 % | |
| R2 | 0.443 | 8.71 % | ||
| R1 | 0.429 | 5.28 % | ||
| Current price | 0.408 | |||
| Support | S1 | 0.407 | -0.147% | |
| S2 | 0.401 | -1.50% | ||
| S3 | 0 | . |
FAQ
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