enVVeno Medical Corporation Stock Forecast
enVVeno Medical Corporation stock price down 0.198% on Friday
(Updated on May 03, 2024)
The enVVeno Medical Corporation stock price fell by -0.198% on the last day (Friday, 3rd May 2024) from $5.06 to $5.05. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.98% from a day low at $5.03 to a day high of $5.23. The price has been going up and down for this period, and there has been a 9.31% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 thousand shares and in total, 22 thousand shares were bought and sold for approximately $110.11 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.69% during the next 3 months and, with a 90% probability hold a price between $3.71 and $6.23 at the end of this 3-month period.
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NVNO Signals & Forecast
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. The enVVeno Medical Corporation 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 $5.17 and $5.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -24.06%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for enVVeno Medical Corporation stock
enVVeno Medical Corporation finds support from accumulated volume at $4.86 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 $0.200 between high and low, or 3.98%. For the last week the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVNO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect enVVeno Medical Corporation to open at $5.10, and during the day (based on 14 day Average True Range), to move between $4.75 and $5.35, which gives a possible trading interval of +/-$0.303 (+/-5.99%) up or down from last closing price. If enVVeno Medical Corporation takes out the full calculated possible swing range there will be an estimated 11.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.86 (3.76%) than the resistance at $5.52 (9.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
enVVeno Medical Corporation will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.400. We will update the financials statements for enVVeno Medical Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.26% in the first trading day after earnings release.
Is enVVeno Medical Corporation stock A Buy?
enVVeno Medical Corporation 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: -4.672 Sell Candidate Unchanged
Predicted Opening Price for enVVeno Medical Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.10 ( 1.06%) | $5.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVNO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.30 | 5.02 % | |
| R2 | 5.23 | 3.50 % | ||
| R1 | 5.18 | 2.57 % | ||
| Current price: | 5.05 | |||
| Support | S1 | 5.03 | -0.457 % | |
| S2 | 4.98 | -1.39 % | ||
| S3 | 4.90 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.20 | 22.77 % | |
| R2 | 5.96 | 18.02 % | ||
| R1 | 5.52 | 9.31 % | ||
| Current price | 5.05 | |||
| Support | S1 | 4.86 | -3.76% | |
| S2 | 4.85 | -3.96% | ||
| S3 | 4.53 | -10.30% |
FAQ
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