Tecogen Inc. Stock Forecast
Volatile ride for Tecogen Inc. stock price on Monday moving between $0.715 and $0.797
(Updated on Apr 29, 2024)
The Tecogen Inc. stock price fell by -10.31% on the last day (Monday, 29th Apr 2024) from $0.797 to $0.715. During the last trading day the stock fluctuated 11.50% from a day low at $0.715 to a day high of $0.797. The price has been going up and down for this period, and there has been a 6.72% gain for the last 2 weeks. Volume has increased on the last day by 8 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, 12 thousand shares were bought and sold for approximately $8.60 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tecogen Inc. stock with a 90% probability to be traded between $0.630 and $0.797 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TGEN Signals & Forecast
The Tecogen 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 $0.704 and $0.698. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -10.31%. Further fall is indicated until a new bottom pivot has been found. Tecogen 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 Tecogen Inc. stock
Tecogen Inc. finds support from accumulated volume at $0.700 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 $0.0822 between high and low, or 11.50%. For the last week, the stock has had daily average volatility of 8.38%.
Our recommended stop-loss: $0.680 (-4.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (TGEN) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Tecogen Inc. to open at $0.742, and during the day (based on 14 day Average True Range), to move between $0.667 and $0.763, which gives a possible trading interval of +/-$0.0478 (+/-6.69%) up or down from last closing price. If Tecogen Inc. takes out the full calculated possible swing range there will be an estimated 13.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.720 (0.70%) than the support at $0.700 (2.10%), 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 Tecogen Inc. stock A Buy?
Tecogen Inc. 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: 0.505 Hold/Accumulate Unchanged
Predicted Opening Price for Tecogen Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $0.742 ( 3.83%) | $0.715 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 15.33 % | |
| R2 | 0.793 | 10.94 % | ||
| R1 | 0.774 | 8.22 % | ||
| Current price: | 0.715 | |||
| Support | S1 | 0.711 | -0.559 % | |
| S2 | 0.692 | -3.27 % | ||
| S3 | 0.660 | -7.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.764 | 6.85 % | |
| R2 | 0.730 | 2.06 % | ||
| R1 | 0.720 | 0.699 % | ||
| Current price | 0.715 | |||
| Support | S1 | 0.700 | -2.10% | |
| S2 | 0.641 | -10.35% | ||
| S3 | 0.630 | -11.90% |
FAQ
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