Cyclacel Pharmaceuticals Stock Forecast
Big movements in Cyclacel Pharmaceuticals stock price on Wednesday moving 27.02% between high and low
(Updated on Apr 24, 2024)
The Cyclacel Pharmaceuticals stock price gained 28.49% on the last trading day (Wednesday, 24th Apr 2024), rising from $1.79 to $2.30. During the last trading day the stock fluctuated 27.02% from a day low at $1.85 to a day high of $2.35. The price has fallen in 6 of the last 10 days but is still up by 12.19% 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, 300 thousand more shares were traded than the day before. In total, 328 thousand shares were bought and sold for approximately $754.95 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $2.48 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.81% during the next 3 months and, with a 90% probability hold a price between $1.18 and $1.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CYCC Signals & Forecast
Mostly positive signals in the chart today. The Cyclacel Pharmaceuticals 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 $1.87 and $2.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 46.49%. 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). Cyclacel Pharmaceuticals has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Cyclacel Pharmaceuticals stock
Cyclacel Pharmaceuticals finds support from accumulated volume at $2.28 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 $0.500 between high and low, or 27.02%. For the last week, the stock has had daily average volatility of 13.29%.
Our recommended stop-loss: $2.21 (-3.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CYCC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Cyclacel Pharmaceuticals to open at $2.17, and during the day (based on 14 day Average True Range), to move between $2.08 and $2.52, which gives a possible trading interval of +/-$0.217 (+/-9.45%) up or down from last closing price. If Cyclacel Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 18.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.28 (0.87%) than the resistance at $2.49 (8.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cyclacel Pharmaceuticals stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 3.970 Buy Candidate Upgraded
Predicted Opening Price for Cyclacel Pharmaceuticals of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $2.17 ( 5.80%) | $2.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.67 | 15.94 % | |
| R2 | 2.48 | 7.64 % | ||
| R1 | 2.36 | 2.51 % | ||
| Current price: | 2.30 | |||
| Support | S1 | 1.98 | -14.10 % | |
| S2 | 1.86 | -19.23 % | ||
| S3 | 1.67 | -27.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.58 | 12.18 % | |
| R2 | 2.51 | 9.14 % | ||
| R1 | 2.49 | 8.27 % | ||
| Current price | 2.30 | |||
| Support | S1 | 2.28 | -0.87% | |
| S2 | 2.22 | -3.47% | ||
| S3 | 1.96 | -14.78% |
CYCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2016 | Jul 13, 2016 | Aug 01, 2016 | $3.00 | 0.200% |
FAQ
Click here for our free guide on how to buy Cyclacel Pharmaceuticals Stock.
