Akebia Therapeutics Stock Forecast
Stronger technical forecast for Akebia Therapeutics stock price after Friday trading.
(Updated on Apr 19, 2024)
The Akebia Therapeutics stock price fell by -2.16% on the last day (Friday, 19th Apr 2024) from $1.39 to $1.36. During the last trading day the stock fluctuated 5.34% from a day low at $1.31 to a day high of $1.38. The price has fallen in 5 of the last 10 days and is down by -8.72% for this period. Volume has increased on the last day by 318 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, 3 million shares were bought and sold for approximately $3.88 million.
Given the current horizontal trend, you can expect Akebia Therapeutics stock with a 90% probability to be traded between $1.38 and $2.29 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AKBA Signals & Forecast
There are few to no technical positive signals at the moment. The Akebia Therapeutics 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 $1.42 and $1.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -39.29%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Akebia Therapeutics stock
Akebia Therapeutics finds support from accumulated volume at $1.35 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 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 $0.0700 between high and low, or 5.34%. For the last week, the stock has had daily average volatility of 5.91%.
Akebia Therapeutics is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $1.28 (-5.58%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (AKBA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Akebia Therapeutics to open at $1.35, and during the day (based on 14 day Average True Range), to move between $1.21 and $1.51, which gives a possible trading interval of +/-$0.146 (+/-10.74%) up or down from last closing price. If Akebia Therapeutics takes out the full calculated possible swing range there will be an estimated 21.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.35 (0.74%) than the resistance at $1.39 (2.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Akebia Therapeutics stock A Buy?
Akebia Therapeutics holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.835 Hold/Accumulate Upgraded
Predicted Opening Price for Akebia Therapeutics of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.35 ( 0.735%) | $1.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKBA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.42 | 4.41 % | |
| R2 | 1.39 | 2.45 % | ||
| R1 | 1.38 | 1.23 % | ||
| Current price: | 1.36 | |||
| Support | S1 | 1.32 | -2.70 % | |
| S2 | 1.31 | -3.92 % | ||
| S3 | 1.28 | -5.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.63 | 19.85 % | |
| R2 | 1.49 | 9.56 % | ||
| R1 | 1.39 | 2.21 % | ||
| Current price | 1.36 | |||
| Support | S1 | 1.35 | -0.735% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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