Galmed Pharmaceuticals Ltd. Stock Forecast
Galmed Pharmaceuticals Ltd. stock price ended at $0.346 on Thursday, after gaining 4.88%.
(Updated on Mar 28, 2024)
The Galmed Pharmaceuticals Ltd. stock price gained 4.88% on the last trading day (Thursday, 28th Mar 2024), rising from $0.330 to $0.346. During the last trading day the stock fluctuated 9.06% from a day low at $0.320 to a day high of $0.349. The price has risen in 6 of the last 10 days but is still down by -0.77% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $14.24 thousand.
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 -21.14% during the next 3 months and, with a 90% probability hold a price between $0.232 and $0.298 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.
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GLMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 13.62%. Further rise is indicated until a new top pivot has been found. Galmed Pharmaceuticals Ltd. 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Galmed Pharmaceuticals Ltd. 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 $0.358. On a fall, the stock will find some support from the short-term average at $0.321. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Galmed Pharmaceuticals Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.320 and $0.311. 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, Galmed Pharmaceuticals Ltd. finds support just below today's level at $0.320. If this is broken, then the next support from accumulated volume will be at $0.311 and $0.305.
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 $0.0290 between high and low, or 9.06%. For the last week, the stock has had daily average volatility of 6.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLMD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Galmed Pharmaceuticals Ltd. to open at $0.338, and during the day (based on 14 day Average True Range), to move between $0.316 and $0.377, which gives a possible trading interval of +/-$0.0304 (+/-8.79%) up or down from last closing price. If Galmed Pharmaceuticals Ltd. takes out the full calculated possible swing range there will be an estimated 17.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.369 (6.41%) than the support at $0.320 (7.54%), 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 Galmed Pharmaceuticals Ltd. stock A Buy?
Galmed Pharmaceuticals Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.752 Sell Candidate Unchanged
Predicted Opening Price for Galmed Pharmaceuticals Ltd. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.338 ( 2.27%) | $0.346 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.367 | 6.10 % | |
R2 | 0.356 | 2.90 % | ||
R1 | 0.350 | 0.93 % | ||
Current price: | 0.346 | |||
Support | S1 | 0.327 | -5.47 % | |
S2 | 0.321 | -7.45 % | ||
S3 | 0.309 | -10.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.410 | 18.39 % | |
R2 | 0.380 | 9.73 % | ||
R1 | 0.369 | 6.41 % | ||
Current price | 0.346 | |||
Support | S1 | 0.320 | -7.54% | |
S2 | 0.311 | -10.28% | ||
S3 | 0.305 | -11.90% |
FAQ
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