Energous Corporation Stock Forecast
Energous Corporation stock price down 2.75% on Tuesday
(Updated on Jul 02, 2024)
The Energous Corporation stock price fell by -2.75% on the last day (Tuesday, 2nd Jul 2024) from $1.09 to $1.06. During the last trading day the stock fluctuated 4.72% from a day low at $1.06 to a day high of $1.11. The price has risen in 5 of the last 10 days but is still down by -1.85% for this period. Volume has increased on the last day by 6 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, 25 thousand shares were bought and sold for approximately $26.52 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 -30.56% during the next 3 months and, with a 90% probability hold a price between $0.653 and $0.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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WATT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 2.91%. 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. The Energous 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 $1.09 and $1.32. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Energous Corporation 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 Energous Corporation stock
Energous Corporation finds support from accumulated volume at $1.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0500 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 4.77%.
Energous Corporation is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WATT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Energous Corporation to open at $1.08, and during the day (based on 14 day Average True Range), to move between $0.97 and $1.15, which gives a possible trading interval of +/-$0.0899 (+/-8.48%) up or down from last closing price. If Energous Corporation takes out the full calculated possible swing range there will be an estimated 16.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.08 (1.89%) than the support at $1.03 (2.83%), 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 Energous Corporation stock A Buy?
Energous 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: -4.623 Sell Candidate Unchanged
Predicted Opening Price for Energous Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.08 ( 1.57%) | $1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WATT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.13 | 6.29% |
| R2 | 1.11 | 4.49% |
| R1 | 1.10 | 3.37% |
| Price | 1.06 | |
| S1 | 1.06 | -0.230% |
| S2 | 1.05 | -1.34% |
| S3 | 1.03 | -3.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.20 | 13.21% |
| R2 | 1.10 | 3.77% |
| R1 | 1.08 | 1.89% |
| Price | 1.06 | |
| S1 | 1.03 | -2.83% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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