Tecogen Inc. Stock Forecast
High volatility in Tecogen Inc. stock price on Friday which ended trading at $0.630
(Updated on Apr 19, 2024)
The Tecogen Inc. stock price fell by -7.32% on the last day (Friday, 19th Apr 2024) from $0.680 to $0.630. During the last trading day the stock fluctuated 13.07% from a day low at $0.610 to a day high of $0.690. The price has fallen in 4 of the last 10 days and is down by -8.71% for this period. Volume has increased on the last day by 54 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, 56 thousand shares were bought and sold for approximately $35.34 thousand.
The stock lies in the middle of a 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 -6.04% during the next 3 months and, with a 90% probability hold a price between $0.561 and $0.699 at the end of this 3-month period.
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TGEN Signals & Forecast
There are few to no technical positive signals at the moment. The Tecogen Inc. 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 $0.674 and $0.695. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -16.01%. 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). Tecogen Inc. 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 Tecogen Inc. 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0797 between high and low, or 13.07%. For the last week, the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TGEN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Tecogen Inc. to open at $0.643, and during the day (based on 14 day Average True Range), to move between $0.595 and $0.665, which gives a possible trading interval of +/-$0.0346 (+/-5.50%) up or down from last closing price. If Tecogen Inc. takes out the full calculated possible swing range there will be an estimated 11.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.641, some $0.0111 (1.76%) from the current price of $0.630, our system finds the risk reward not very attractive.
Is Tecogen Inc. stock A Buy?
Tecogen Inc. 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: -4.827 Sell Candidate Unchanged
Predicted Opening Price for Tecogen Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.643 ( 2.11%) | $0.630 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.723 | 14.76 % | |
| R2 | 0.692 | 9.93 % | ||
| R1 | 0.674 | 6.94 % | ||
| Current price: | 0.630 | |||
| Support | S1 | 0.613 | -2.72 % | |
| S2 | 0.594 | -5.71 % | ||
| S3 | 0.564 | -10.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.720 | 14.30 % | |
| R2 | 0.700 | 11.12 % | ||
| R1 | 0.641 | 1.76 % | ||
| Current price | 0.630 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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