IZEA Worldwide, Inc. Stock Forecast
IZEA Worldwide, Inc. stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 24, 2024)
The IZEA Worldwide, Inc. stock price gained 1.09% on the last trading day (Friday, 24th May 2024), rising from $2.75 to $2.78. During the last trading day the stock fluctuated 4.71% from a day low at $2.70 to a day high of $2.83. The price has fallen in 5 of the last 10 days and is down by -12.58% for this period. Volume fell on the last day by -7 thousand shares and in total, 29 thousand shares were bought and sold for approximately $80.75 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.66 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 53.39% during the next 3 months and, with a 90% probability hold a price between $4.08 and $5.49 at the end of this 3-month period.
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IZEA Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -18.71%. 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 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. The IZEA Worldwide, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.77 and $2.77. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for IZEA Worldwide, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.56 and $2.39. 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, IZEA Worldwide, Inc. finds support just below today's level at $2.56. If this is broken, then the next support from accumulated volume will be at $2.39 and $2.31.
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 $0.127 between high and low, or 4.71%. For the last week the stock has had daily average volatility of 5.14%.
Our recommended stop-loss: $2.64 (-4.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (IZEA) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect IZEA Worldwide, Inc. to open at $2.77, and during the day (based on 14 day Average True Range), to move between $2.54 and $3.02, which gives a possible trading interval of +/-$0.238 (+/-8.58%) up or down from last closing price. If IZEA Worldwide, Inc. takes out the full calculated possible swing range there will be an estimated 17.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.90 (4.32%) than the support at $2.56 (7.91%), 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 IZEA Worldwide, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for IZEA Worldwide, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.036 Buy Candidate Upgraded
Predicted Opening Price for IZEA Worldwide, Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $2.77 ( 0.392%) | $2.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IZEA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.90 | 4.19 % | |
| R2 | 2.85 | 2.44 % | ||
| R1 | 2.82 | 1.36 % | ||
| Current price: | 2.78 | |||
| Support | S1 | 2.72 | -2.14 % | |
| S2 | 2.69 | -3.22 % | ||
| S3 | 2.64 | -4.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.42 | 23.02 % | |
| R2 | 3.10 | 11.51 % | ||
| R1 | 2.90 | 4.32 % | ||
| Current price | 2.78 | |||
| Support | S1 | 2.56 | -7.91% | |
| S2 | 2.39 | -14.03% | ||
| S3 | 2.31 | -16.91% |
FAQ
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