Codexis Stock Forecast
Codexis stock price ended at $3.49 on Thursday, after losing 0.570%.
(Updated on Mar 28, 2024)
The Codexis stock price fell by -0.570% on the last day (Thursday, 28th Mar 2024) from $3.51 to $3.49. During the last trading day the stock fluctuated 7.76% from a day low at $3.45 to a day high of $3.72. The price has risen in 4 of the last 10 days and is up by 9.06% over the past 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 -54 thousand shares and in total, 435 thousand shares were bought and sold for approximately $1.52 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 $3.20 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 25.22% during the next 3 months and, with a 90% probability hold a price between $4.00 and $6.23 at the end of this 3-month period.
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CDXS Signals & Forecast
The Codexis 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 $3.48 and $3.42. 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 Thursday, February 29, 2024, and so far it has fallen -24.95%. 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 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 Codexis stock
Codexis finds support from accumulated volume at $3.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.268 between high and low, or 7.76%. For the last week, the stock has had daily average volatility of 5.03%.
Our recommended stop-loss: $3.35 (-3.98%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (CDXS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Codexis to open at $3.55, and during the day (based on 14 day Average True Range), to move between $3.19 and $3.79, which gives a possible trading interval of +/-$0.295 (+/-8.47%) up or down from last closing price. If Codexis takes out the full calculated possible swing range there will be an estimated 16.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.47 (0.57%) than the resistance at $3.72 (6.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Codexis stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Codexis stock to perform well in the short-term.
Current score: 2.356 Buy Candidate Unchanged
Predicted Opening Price for Codexis of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.55 ( 1.81%) | $3.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDXS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.82 | 9.49 % | |
R2 | 3.72 | 6.55 % | ||
R1 | 3.66 | 4.74 % | ||
Current price: | 3.49 | |||
Support | S1 | 3.45 | -1.12 % | |
S2 | 3.39 | -2.93 % | ||
S3 | 3.29 | -5.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.15 | 18.91 % | |
R2 | 3.76 | 7.74 % | ||
R1 | 3.72 | 6.59 % | ||
Current price | 3.49 | |||
Support | S1 | 3.47 | -0.573% | |
S2 | 2.87 | -17.77% | ||
S3 | 2.85 | -18.34% |
FAQ
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