ESS Tech, Inc. Stock Forecast
ESS Tech, Inc. stock price ended at $0.695 on Monday, after gaining 0.564%.
(Updated on Apr 22, 2024)
The ESS Tech, Inc. stock price gained 0.564% on the last trading day (Monday, 22nd Apr 2024), rising from $0.691 to $0.695. During the last trading day the stock fluctuated 7.25% from a day low at $0.670 to a day high of $0.719. The price has fallen in 6 of the last 10 days and is down by -5.09% for this period. Volume fell on the last day by -71 thousand shares and in total, 463 thousand shares were bought and sold for approximately $322.01 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.637, a level that may pose a second chance to hit a runner. According to fan-theory $0.790 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GWH Signals & Forecast
There are mixed signals in the stock today. The ESS Tech, 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 $0.732. On a fall, the stock will find some support from the short-term average at $0.673. 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. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -7.33%. Further fall is indicated until a new bottom pivot has been found. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ESS Tech, Inc. stock
ESS Tech, Inc. finds support from accumulated volume at $0.681 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 $0.0486 between high and low, or 7.25%. For the last week the stock has had daily average volatility of 6.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GWH) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect ESS Tech, Inc. to open at $0.695, and during the day (based on 14 day Average True Range), to move between $0.643 and $0.747, which gives a possible trading interval of +/-$0.0522 (+/-7.52%) up or down from last closing price. If ESS Tech, Inc. takes out the full calculated possible swing range there will be an estimated 15.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.697 (0.30%) than the support at $0.681 (2.09%), 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 ESS Tech, Inc. stock A Buy?
ESS Tech, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.720 Sell Candidate Unchanged
Predicted Opening Price for ESS Tech, Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.695 ( 0.0671%) | $0.695 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GWH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.743 | 6.93 % | |
| R2 | 0.725 | 4.25 % | ||
| R1 | 0.713 | 2.60 % | ||
| Current price: | 0.695 | |||
| Support | S1 | 0.676 | -2.74 % | |
| S2 | 0.664 | -4.39 % | ||
| S3 | 0.646 | -7.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.750 | 7.91 % | |
| R2 | 0.701 | 0.83 % | ||
| R1 | 0.697 | 0.302 % | ||
| Current price | 0.695 | |||
| Support | S1 | 0.681 | -2.09% | |
| S2 | 0.660 | -5.04% | ||
| S3 | 0.617 | -11.27% |
FAQ
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