Energous Corporation Stock Forecast
Green day on Thursday for Energous Corporation
(Updated on Mar 28, 2024)
The Energous Corporation stock price gained 4.10% on the last trading day (Thursday, 28th Mar 2024), rising from $1.95 to $2.03. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.14% from a day low at $1.96 to a day high of $2.10. The price has risen in 6 of the last 10 days and is up by 12.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 171 thousand more shares were traded than the day before. In total, 302 thousand shares were bought and sold for approximately $614.02 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.59% during the next 3 months and, with a 90% probability hold a price between $1.86 and $2.97 at the end of this 3-month period.
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WATT Signals & Forecast
Mostly positive signals in the chart today. The Energous Corporation 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 $1.83 and $1.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 23.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Energous Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Energous Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.82 and $1.66. 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, Energous Corporation finds support just below today's level at $1.82. If this is broken, then the next support from accumulated volume will be at $1.66 and $1.63.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.140 between high and low, or 7.14%. For the last week, the stock has had daily average volatility of 8.03%.
Our recommended stop-loss: $1.95 (-3.96%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (WATT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Energous Corporation to open at $2.03, and during the day (based on 14 day Average True Range), to move between $1.87 and $2.19, which gives a possible trading interval of +/-$0.162 (+/-8.00%) up or down from last closing price. If Energous Corporation takes out the full calculated possible swing range there will be an estimated 16.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.06 (1.48%) than the support at $1.82 (10.34%), 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?
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 Energous Corporation stock to perform well in the short-term.
Current score: 4.794 Buy Candidate Unchanged
Predicted Opening Price for Energous Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$2.03 ( 0%) | $2.03 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 2.17 | 6.90 % | |
R2 | 2.12 | 4.26 % | ||
R1 | 2.08 | 2.63 % | ||
Current price: | 2.03 | |||
Support | S1 | 1.98 | -2.63 % | |
S2 | 1.94 | -4.26 % | ||
S3 | 1.89 | -6.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.42 | 19.21 % | |
R2 | 2.27 | 11.82 % | ||
R1 | 2.06 | 1.48 % | ||
Current price | 2.03 | |||
Support | S1 | 1.82 | -10.34% | |
S2 | 1.66 | -18.23% | ||
S3 | 1.63 | -19.70% |
FAQ
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