Atara Biotherapeutics Stock Forecast
Atara Biotherapeutics stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Atara Biotherapeutics stock price gained 3.04% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.697 to $0.719. During the last trading day the stock fluctuated 8.69% from a day low at $0.666 to a day high of $0.724. The price has fallen in 6 of the last 10 days and is down by -4.1% for this period. Volume fell on the last day by -19 thousand shares and in total, 831 thousand shares were bought and sold for approximately $597.26 thousand. 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.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.58% during the next 3 months and, with a 90% probability hold a price between $0.418 and $1.01 at the end of this 3-month period.
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ATRA Signals & Forecast
The Atara Biotherapeutics stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.692 and $0.700. A breakdown below any of these levels will issue sell signals. 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 Friday, February 02, 2024, and so far it has fallen -41.10%. 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 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.
Support, Risk & Stop-loss for Atara Biotherapeutics stock
Atara Biotherapeutics finds support from accumulated volume at $0.700 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0579 between high and low, or 8.69%. For the last week the stock has had daily average volatility of 8.15%.
Our recommended stop-loss: $0.679 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 55 days ago.)
Trading Expectations (ATRA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Atara Biotherapeutics to open at $0.703, and during the day (based on 14 day Average True Range), to move between $0.654 and $0.783, which gives a possible trading interval of +/-$0.0645 (+/-8.98%) up or down from last closing price. If Atara Biotherapeutics takes out the full calculated possible swing range there will be an estimated 17.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.700 (2.59%) than the resistance at $0.762 (5.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Atara Biotherapeutics stock A Buy?
Atara Biotherapeutics 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: 0.431 Hold/Accumulate Upgraded
Predicted Opening Price for Atara Biotherapeutics of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.703 ( 2.16%) | $0.719 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.761 | 5.90 % | |
| R2 | 0.739 | 2.82 % | ||
| R1 | 0.725 | 0.92 % | ||
| Current price: | 0.719 | |||
| Support | S1 | 0.681 | -5.23 % | |
| S2 | 0.667 | -7.14 % | ||
| S3 | 0.645 | -10.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 15.50 % | |
| R2 | 0.778 | 8.27 % | ||
| R1 | 0.762 | 5.97 % | ||
| Current price | 0.719 | |||
| Support | S1 | 0.700 | -2.59% | |
| S2 | 0.692 | -3.77% | ||
| S3 | 0.661 | -8.02% |
FAQ
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