Calithera Biosciences Stock Forecast

A very red day for Calithera Biosciences stock price after a -37.38% fall in the Thursday trading session
(Updated on Apr 18, 2024)

CALA Signals & Forecast

The Calithera Biosciences 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 $0.0322. On a fall, the stock will find some support from the long-term average at approximately $0.0239. 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 Tuesday, April 16, 2024, and so far it has fallen -49.90%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Calithera Biosciences stock

Calithera Biosciences finds support from accumulated volume at $0.0246 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 50.00%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CALA) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Calithera Biosciences to open at $0.0251, and during the day (based on 14 day Average True Range), to move between $0.0181 and $0.0320, which gives a possible trading interval of +/-$0.0070 (+/-27.78%) up or down from last closing price. If Calithera Biosciences takes out the full calculated possible swing range there will be an estimated 55.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0246 (2.00%) than the resistance at $0.0300 (19.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Calithera Biosciences stock A Buy?

Calithera Biosciences holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.200 Sell Candidate Downgraded

Predicted Opening Price for Calithera Biosciences of Friday, April 19, 2024

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