Egalet Corporation Stock Forecast

Egalet Corporation stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Mar 01, 2019)

EGLT Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, February 06, 2019, and so far it has fallen 0%. 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 Egalet 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 $0.0080 and $0.0081. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Egalet Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0076 and $0.0075. 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, Egalet Corporation finds support just below today's level at $0.0076. If this is broken, then the next support from accumulated volume will be at $0.0075 and $0.0072.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: $0.0075 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (EGLT) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect Egalet Corporation to open at $0.0080, and during the day (based on 14 day Average True Range), to move between $0.0071 and $0.0089, which gives a possible trading interval of +/-$0.0009 (+/-10.78%) up or down from last closing price. If Egalet Corporation takes out the full calculated possible swing range there will be an estimated 21.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0083 (3.13%) than the support at $0.0076 (5.00%), 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 Egalet Corporation stock A Buy?

Egalet Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.518 Hold/Accumulate Downgraded

Predicted Opening Price for Egalet Corporation of Monday, March 4, 2019

The predicted opening price is based on yesterday's movements between high, low, and closing price.