Galectin Therapeutics Inc. Stock Forecast
Galectin Therapeutics Inc. stock price ended at $3.37 on Friday, after losing 0.296%.
(Updated on Apr 19, 2024)
The Galectin Therapeutics Inc. stock price fell by -0.296% on the last day (Friday, 19th Apr 2024) from $3.38 to $3.37. During the last trading day the stock fluctuated 8.33% from a day low at $3.20 to a day high of $3.47. The price has fallen in 6 of the last 10 days and is down by -9.65% for this period. Volume has increased on the last day by 72 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, 205 thousand shares were bought and sold for approximately $690.79 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 90.27% during the next 3 months and, with a 90% probability hold a price between $5.37 and $8.38 at the end of this 3-month period.
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GALT Signals & Forecast
The Galectin Therapeutics Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.66. On a fall, the stock will find some support from the long-term average at approximately $2.70. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -19.76%. Further fall is indicated until a new bottom pivot has been found. Galectin Therapeutics 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".
Support, Risk & Stop-loss for Galectin Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.00 and $2.85. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $2.85 may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.267 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 9.09%.
Our recommended stop-loss: $3.21 (-4.68%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (GALT) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Galectin Therapeutics Inc. to open at $3.35, and during the day (based on 14 day Average True Range), to move between $3.08 and $3.66, which gives a possible trading interval of +/-$0.290 (+/-8.60%) up or down from last closing price. If Galectin Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 17.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.73 (10.68%) than the support at $3.00 (10.98%), 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 Galectin Therapeutics Inc. 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 Galectin Therapeutics Inc. stock to perform well in the short-term.
Current score: 1.608 Buy Candidate Unchanged
Predicted Opening Price for Galectin Therapeutics Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $3.35 ( 0.664%) | $3.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GALT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.61 | 7.26 % | |
| R2 | 3.51 | 4.23 % | ||
| R1 | 3.45 | 2.36 % | ||
| Current price: | 3.37 | |||
| Support | S1 | 3.25 | -3.69 % | |
| S2 | 3.18 | -5.56 % | ||
| S3 | 3.08 | -8.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.97 | 17.80 % | |
| R2 | 3.82 | 13.35 % | ||
| R1 | 3.73 | 10.68 % | ||
| Current price | 3.37 | |||
| Support | S1 | 3.00 | -10.98% | |
| S2 | 2.85 | -15.43% | ||
| S3 | 0 | . |
FAQ
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