Energy Focus Stock Forecast
Energy Focus stock price ended at $1.40 on Wednesday, after losing 0.709%.
(Updated on Apr 17, 2024)
The Energy Focus stock price fell by -0.709% on the last day (Wednesday, 17th Apr 2024) from $1.41 to $1.40. During the last trading day the stock fluctuated 4.44% from a day low at $1.35 to a day high of $1.41. The price has fallen in 6 of the last 10 days and is down by -6.04% for this period. 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 -10 thousand shares and in total, 2 thousand shares were bought and sold for approximately $2.82 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.33 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 6.97% during the next 3 months and, with a 90% probability hold a price between $1.42 and $2.60 at the end of this 3-month period.
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EFOI Signals & Forecast
There are few to no technical positive signals at the moment. The Energy Focus 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 $1.48 and $1.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 22, 2024, and so far it has fallen -39.91%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Energy Focus stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.30 and $1.29. 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, Energy Focus finds support just below today's level at $1.30. If this is broken, then the next support from accumulated volume will be at $1.29 and $1.25.
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 $0.0600 between high and low, or 4.44%. For the last week the stock has had daily average volatility of 10.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EFOI) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Energy Focus to open at $1.39, and during the day (based on 14 day Average True Range), to move between $1.26 and $1.54, which gives a possible trading interval of +/-$0.136 (+/-9.73%) up or down from last closing price. If Energy Focus takes out the full calculated possible swing range there will be an estimated 19.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.48 (5.36%) than the support at $1.30 (7.14%), 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 Energy Focus stock A Buy?
The Energy Focus stock holds several negative signals and despite the positive trend, we believe Energy Focus will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.314 Sell Candidate Unchanged
Predicted Opening Price for Energy Focus of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $1.39 ( 0.95%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFOI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | 3.33 % | |
| R2 | 1.42 | 1.70 % | ||
| R1 | 1.41 | 0.685 % | ||
| Current price: | 1.40 | |||
| Support | S1 | 1.36 | -2.59 % | |
| S2 | 1.35 | -3.60 % | ||
| S3 | 1.33 | -5.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.67 | 19.29 % | |
| R2 | 1.50 | 7.14 % | ||
| R1 | 1.48 | 5.36 % | ||
| Current price | 1.40 | |||
| Support | S1 | 1.30 | -7.14% | |
| S2 | 1.29 | -7.86% | ||
| S3 | 1.25 | -10.71% |
FAQ
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