Cidara Therapeutics Stock Forecast
High volatility in Cidara Therapeutics stock price on Thursday which ended trading at $13.00
(Updated on Apr 25, 2024)
The Cidara Therapeutics stock price gained 5.78% on the last trading day (Thursday, 25th Apr 2024), rising from $12.29 to $13.00. During the last trading day the stock fluctuated 23.30% from a day low at $12.13 to a day high of $14.96. The price has fallen in 7 of the last 10 days but is still up by 1404.46% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 693 thousand more shares were traded than the day before. In total, 751 thousand shares were bought and sold for approximately $9.76 million.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $2.90, a level that may pose a second chance to hit a runner.
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CDTX Signals & Forecast
Mostly positive signals in the chart today. The Cidara Therapeutics stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.06 and $1.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 2,436.59%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Cidara Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.29. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $2.83 between high and low, or 23.30%. For the last week, the stock has had daily average volatility of 20.38%.
The Cidara Therapeutics stock is extremely overbought on RSI14 (95). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $12.60 (-3.10%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 95 and this increases the risk substantially. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CDTX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Cidara Therapeutics to open at $13.36, and during the day (based on 14 day Average True Range), to move between $11.90 and $14.10, which gives a possible trading interval of +/-$1.10 (+/-8.42%) up or down from last closing price. If Cidara Therapeutics takes out the full calculated possible swing range there will be an estimated 16.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $12.29, some $0.710 (5.46%) from the current price of $13.00, our system finds the risk reward attractive.
Is Cidara Therapeutics stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Cidara Therapeutics stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.994 Strong Buy Candidate Upgraded
Predicted Opening Price for Cidara Therapeutics of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$13.36 ( 2.80%) | $13.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDTX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.19 | 24.55 % | |
R2 | 15.11 | 16.24 % | ||
R1 | 14.44 | 11.11 % | ||
Current price: | 13.00 | |||
Support | S1 | 12.28 | -5.50 % | |
S2 | 11.62 | -10.64 % | ||
S3 | 10.54 | -18.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 13.00 | |||
Support | S1 | 12.29 | -5.46% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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