Ess Tech, Inc. Wt Stock Forecast
A very strong day for Ess Tech, Inc. Wt stock price on Friday
(Updated on Jun 28, 2024)
The Ess Tech, Inc. Wt stock price gained 6.07% on the last trading day (Friday, 28th Jun 2024), rising from $0.0659 to $0.0699. During the last trading day the stock fluctuated 0.143% from a day low at $0.0699 to a day high of $0.0700. The price has risen in 5 of the last 10 days and is up by 9.22% over the past 2 weeks. Volume fell on the last day by -500 shares and in total, 400 shares were bought and sold for approximately $27.96 . 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 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 $0.0692, a level that may pose a second chance to hit a runner. According to fan-theory $0.0801 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-WT Signals & Forecast
The Ess Tech, Inc. Wt 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 $0.0648 and $0.0656. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 16.11%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ess Tech, Inc. Wt stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0650 and $0.0650. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ess Tech, Inc. Wt finds support just below today's level at $0.0650. If this is broken, then the next support from accumulated volume will be at $0.0650 and $0.0640.
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 $0.0001 between high and low, or 0.143%. For the last week the stock has had daily average volatility of 11.50%.
Our recommended stop-loss: $0.0675 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GWH-WT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ess Tech, Inc. Wt to open at $0.0699, and during the day (based on 14 day Average True Range), to move between $0.0637 and $0.0761, which gives a possible trading interval of +/-$0.0062 (+/-8.81%) up or down from last closing price. If Ess Tech, Inc. Wt takes out the full calculated possible swing range there will be an estimated 17.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0700 (0.14%) than the support at $0.0650 (7.01%), 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. Wt stock A Buy?
Ess Tech, Inc. Wt holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.719 Hold/Accumulate Unchanged
Predicted Opening Price for Ess Tech, Inc. Wt of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.0699 ( 0.0477%) | $0.0699 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GWH-WT
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0700 | 0.191% |
R2 | 0.0700 | 0.136% |
R1 | 0.0700 | 0.102% |
Price | 0.0699 | |
S1 | 0.0699 | -0.0070% |
S2 | 0.0699 | -0.0407% |
S3 | 0.0698 | -0.0954% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0748 | 7.01% |
R2 | 0.0724 | 3.58% |
R1 | 0.0700 | 0.143% |
Price | 0.0699 | |
S1 | 0.0650 | -7.01% |
S2 | 0.0650 | -7.01% |
S3 | 0.0640 | -8.44% |
FAQ
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