EQTEC plc Stock Forecast
Big movements in EQTEC plc stock price on Monday moving 11.11% between high and low
(Updated on Apr 22, 2024)
The EQTEC plc stock price fell by -7.69% on the last day (Monday, 22nd Apr 2024) from £1.95 to £1.80. During the last trading day the stock fluctuated 11.11% from a day low at £1.80 to a day high of £2.00. The price has fallen in 5 of the last 10 days and is down by -16.28% 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 -119 thousand shares and in total, 54 thousand shares were bought and sold for approximately £97.84 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £1.77 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -24.91% during the next 3 months and, with a 90% probability hold a price between £1.33 and £1.62 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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EQT.L Signals & Forecast
There are few to no technical positive signals at the moment. The EQTEC plc 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 £1.95 and £2.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -23.40%. 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 EQTEC plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.200 between high and low, or 11.11%. For the last week the stock has had daily average volatility of 9.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EQT.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect EQTEC plc to open at £1.87, and during the day (based on 14 day Average True Range), to move between £1.63 and £1.97, which gives a possible trading interval of +/-£0.174 (+/-9.69%) up or down from last closing price. If EQTEC plc takes out the full calculated possible swing range there will be an estimated 19.38% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £2.05, some £0.250 (13.89%) from the current price of £1.80, our system finds the risk reward not very attractive.
Is EQTEC plc stock A Buy?
EQTEC plc holds several negative signals and is within a 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: -4.887 Sell Candidate Unchanged
Predicted Opening Price for EQTEC plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £1.87 ( 3.70%) | £1.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EQT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.07 | 14.81 % | |
| R2 | 1.99 | 10.57 % | ||
| R1 | 1.94 | 7.95 % | ||
| Current price: | 1.80 | |||
| Support | S1 | 1.79 | -0.541 % | |
| S2 | 1.74 | -3.16 % | ||
| S3 | 1.67 | -7.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.15 | 19.44 % | |
| R2 | 2.10 | 16.67 % | ||
| R1 | 2.05 | 13.89 % | ||
| Current price | 1.80 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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