Bio-Path Holdings Stock Forecast
High volatility in Bio-Path Holdings stock price on Thursday which ended trading at $4.20
(Updated on Apr 18, 2024)
The Bio-Path Holdings stock price gained 29.63% on the last trading day (Thursday, 18th Apr 2024), rising from $3.24 to $4.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 115.45% from a day low at $3.56 to a day high of $7.67. The price has fallen in 7 of the last 10 days and is down by -2.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 82 million more shares were traded than the day before. In total, 83 million shares were bought and sold for approximately $348.24 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 $3.17 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 117.30% during the next 3 months and, with a 90% probability hold a price between $6.88 and $18.94 at the end of this 3-month period.
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BPTH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bio-Path Holdings stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.58. On a fall, the stock will find some support from the short-term average at $3.30. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -34.78%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bio-Path Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.78 and $3.46. 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, Bio-Path Holdings finds support just below today's level at $3.78. If this is broken, then the next support from accumulated volume will be at $3.46 and $3.24.
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 $4.11 between high and low, or 115.45%. For the last week, the stock has had daily average volatility of 34.42%.
Our recommended stop-loss: $3.95 (-5.98%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (BPTH) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Bio-Path Holdings to open at $5.14, and during the day (based on 14 day Average True Range), to move between $3.40 and $5.00, which gives a possible trading interval of +/-$0.795 (+/-18.93%) up or down from last closing price. If Bio-Path Holdings takes out the full calculated possible swing range there will be an estimated 37.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.35 (3.57%) than the support at $3.78 (10.00%), 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 Bio-Path Holdings stock A Buy?
Bio-Path Holdings holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.312 Hold/Accumulate Upgraded
Predicted Opening Price for Bio-Path Holdings of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.14 ( 22.46%) | $4.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPTH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.25 | 120.31 % | |
| R2 | 7.68 | 82.93 % | ||
| R1 | 6.71 | 59.84 % | ||
| Current price: | 4.20 | |||
| Support | S1 | 3.57 | -14.92 % | |
| S2 | 2.60 | -38.01 % | ||
| S3 | 1.03 | -75.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.86 | 15.71 % | |
| R2 | 4.60 | 9.52 % | ||
| R1 | 4.35 | 3.57 % | ||
| Current price | 4.20 | |||
| Support | S1 | 3.78 | -10.00% | |
| S2 | 3.46 | -17.62% | ||
| S3 | 3.24 | -22.86% |
FAQ
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