Iovance Biotherapeutics, Inc. Stock Forecast
Iovance Biotherapeutics, Inc. stock price ended at $11.92 on Tuesday, after gaining 0.252%.
(Updated on Apr 16, 2024)
The Iovance Biotherapeutics, Inc. stock price gained 0.252% on the last trading day (Tuesday, 16th Apr 2024), rising from $11.89 to $11.92. During the last trading day the stock fluctuated 5.25% from a day low at $11.53 to a day high of $12.14. The price has fallen in 6 of the last 10 days and is down by -13.44% for this period. Volume fell on the last day by -981 thousand shares and in total, 5 million shares were bought and sold for approximately $64.31 million. 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.
Given the current short-term trend, the stock is expected to rise 51.86% during the next 3 months and, with a 90% probability hold a price between $18.10 and $32.64 at the end of this 3-month period.
IOVA Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Iovance Biotherapeutics, Inc. 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 $12.60 and $14.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -31.77%. 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).
Support, Risk & Stop-loss for Iovance Biotherapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.95 and $9.18. 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, Iovance Biotherapeutics, Inc. finds support just below today's level at $9.95. If this is broken, then the next support from accumulated volume will be at $9.18 and $9.15.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.605 between high and low, or 5.25%. For the last week, the stock has had daily average volatility of 6.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IOVA) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Iovance Biotherapeutics, Inc. to open at $11.86, and during the day (based on 14 day Average True Range), to move between $11.03 and $12.81, which gives a possible trading interval of +/-$0.89 (+/-7.49%) up or down from last closing price. If Iovance Biotherapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 14.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.03 (0.92%) than the support at $9.95 (16.53%), 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 Iovance Biotherapeutics, Inc. stock A Buy?
The Iovance Biotherapeutics, Inc. stock holds several negative signals and despite the positive trend, we believe Iovance Biotherapeutics, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.059 Sell Candidate Unchanged
Predicted Opening Price for Iovance Biotherapeutics, Inc. of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $11.86 ( 0.489%) | $11.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOVA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.47 | 4.59 % | |
| R2 | 12.24 | 2.65 % | ||
| R1 | 12.09 | 1.45 % | ||
| Current price: | 11.92 | |||
| Support | S1 | 11.63 | -2.43 % | |
| S2 | 11.49 | -3.63 % | ||
| S3 | 11.26 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.72 | 23.49 % | |
| R2 | 13.91 | 16.69 % | ||
| R1 | 12.03 | 0.92 % | ||
| Current price | 11.92 | |||
| Support | S1 | 9.95 | -16.53% | |
| S2 | 9.18 | -22.99% | ||
| S3 | 9.15 | -23.24% |
FAQ
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