ARCA biopharma Stock Forecast

ARCA biopharma stock price up 1.47% on Monday
(Updated on Apr 22, 2024)

ABIO Signals & Forecast

The ARCA biopharma stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.28 and $2.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 15.00%. Further rise is indicated until a new top pivot has been found. 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. 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 also not. The stock had a Golden Star Signal on Friday, September 15, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for ARCA biopharma stock

ARCA biopharma finds support from accumulated volume at $3.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.180 between high and low, or 5.45%. For the last week the stock has had daily average volatility of 5.91%.

The ARCA biopharma stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $3.35 (-2.80%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (ABIO) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect ARCA biopharma to open at $3.41, and during the day (based on 14 day Average True Range), to move between $3.25 and $3.65, which gives a possible trading interval of +/-$0.199 (+/-5.76%) up or down from last closing price. If ARCA biopharma takes out the full calculated possible swing range there will be an estimated 11.52% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $3.40, some $0.0500 (1.45%) from the current price of $3.45, our system finds the risk reward attractive.

Is ARCA biopharma stock A Buy?

ARCA biopharma holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for ARCA biopharma of Tuesday, April 23, 2024

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