Navidea Biopharmaceuticals Inc Stock Forecast
Volatile ride for Navidea Biopharmaceuticals Inc stock price on Monday moving between $0.0365 and $0.0500
(Updated on Apr 22, 2024)
The Navidea Biopharmaceuticals Inc stock price gained 25.71% on the last trading day (Monday, 22nd Apr 2024), rising from $0.0350 to $0.0440. During the last trading day the stock fluctuated 36.99% from a day low at $0.0365 to a day high of $0.0500. The price has been going up and down for this period, and there has been a -8.33% loss for the last 2 weeks. Volume fell on the last day by -282 thousand shares and in total, 55 thousand shares were bought and sold for approximately $2.43 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 -15.53% during the next 3 months and, with a 90% probability hold a price between $0.0233 and $0.0408 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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NAVB Signals & Forecast
The Navidea Biopharmaceuticals Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0386 and $0.0392. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 28.65%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Monday, April 01, 2024 and based on theory for this formation the price should go up by 51.82% to $0.0668 within 14 trading days since signal was issued (Tuesday, April 23, 2024).
Support, Risk & Stop-loss for Navidea Biopharmaceuticals Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0406 and $0.0380. 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, Navidea Biopharmaceuticals Inc finds support just below today's level at $0.0406. If this is broken, then the next support from accumulated volume will be at $0.0380 and $0.0350.
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 $0.0135 between high and low, or 36.99%. For the last week the stock has had daily average volatility of 25.28%.
Our recommended stop-loss: $0.0425 (-3.42%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (NAVB) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Navidea Biopharmaceuticals Inc to open at $0.0435, and during the day (based on 14 day Average True Range), to move between $0.0336 and $0.0544, which gives a possible trading interval of +/-$0.0104 (+/-23.68%) up or down from last closing price. If Navidea Biopharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 47.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0452 (2.61%) than the support at $0.0406 (7.73%), 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 Navidea Biopharmaceuticals Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 3.495 Buy Candidate Upgraded
Predicted Opening Price for Navidea Biopharmaceuticals Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.0435 ( 1.14%) | $0.0440 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAVB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0570 | 29.55 % | |
| R2 | 0.0518 | 17.83 % | ||
| R1 | 0.0487 | 10.58 % | ||
| Current price: | 0.0440 | |||
| Support | S1 | 0.0383 | -12.86 % | |
| S2 | 0.0352 | -20.10 % | ||
| S3 | 0.0300 | -31.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0500 | 13.64 % | |
| R2 | 0.0479 | 8.86 % | ||
| R1 | 0.0452 | 2.61 % | ||
| Current price | 0.0440 | |||
| Support | S1 | 0.0406 | -7.73% | |
| S2 | 0.0380 | -13.64% | ||
| S3 | 0.0350 | -20.45% |
FAQ
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