Abeona Therapeutics Inc. Stock Forecast
Abeona Therapeutics Inc. stock price took a fall of -5.04% on Thursday
(Updated on Apr 18, 2024)
The Abeona Therapeutics Inc. stock price fell by -5.04% on the last day (Thursday, 18th Apr 2024) from $7.93 to $7.53. During the last trading day the stock fluctuated 8.79% from a day low at $7.51 to a day high of $8.17. The price has been going up and down for this period, and there has been a -2.21% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -484 thousand shares and in total, 246 thousand shares were bought and sold for approximately $1.85 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.15 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 51.69% during the next 3 months and, with a 90% probability hold a price between $10.85 and $15.77 at the end of this 3-month period.
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ABEO Signals & Forecast
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. The Abeona Therapeutics 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 $7.65 and $7.72. 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 06, 2024, and so far it has fallen -13.25%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Abeona Therapeutics Inc. stock
Abeona Therapeutics Inc. finds support from accumulated volume at $7.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.660 between high and low, or 8.79%. For the last week, the stock has had daily average volatility of 6.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABEO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Abeona Therapeutics Inc. to open at $7.74, and during the day (based on 14 day Average True Range), to move between $6.99 and $8.07, which gives a possible trading interval of +/-$0.535 (+/-7.11%) up or down from last closing price. If Abeona Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 14.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.57 (0.53%) than the support at $7.35 (2.39%), 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 Abeona Therapeutics Inc. stock A Buy?
The Abeona Therapeutics Inc. stock holds several negative signals and despite the positive trend, we believe Abeona Therapeutics Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.309 Sell Candidate Downgraded
Predicted Opening Price for Abeona Therapeutics Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $7.74 ( 2.74%) | $7.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABEO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.40 | 11.51 % | |
| R2 | 8.14 | 8.16 % | ||
| R1 | 7.99 | 6.09 % | ||
| Current price: | 7.53 | |||
| Support | S1 | 7.48 | -0.604 % | |
| S2 | 7.33 | -2.67 % | ||
| S3 | 7.08 | -6.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.93 | 5.31 % | |
| R2 | 7.81 | 3.72 % | ||
| R1 | 7.57 | 0.531 % | ||
| Current price | 7.53 | |||
| Support | S1 | 7.35 | -2.39% | |
| S2 | 6.99 | -7.17% | ||
| S3 | 6.20 | -17.66% |
ABEO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 31, 2000 | Mar 31, 2000 | Mar 31, 2000 | $3,706.25 | 8.55% |
FAQ
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