Arbutus Biopharma Corporation Stock Forecast
Evaluation of Arbutus Biopharma Corporation stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Arbutus Biopharma Corporation stock price fell by -1.09% on the last day (Thursday, 25th Apr 2024) from $2.75 to $2.72. During the last trading day the stock fluctuated 2.43% from a day low at $2.68 to a day high of $2.75. The price has fallen in 7 of the last 10 days and is down by -10.23% for this period. 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 -21 thousand shares and in total, 318 thousand shares were bought and sold for approximately $864.87 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.89% during the next 3 months and, with a 90% probability hold a price between $2.77 and $3.42 at the end of this 3-month period.
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ABUS Signals & Forecast
There are few to no technical positive signals at the moment. The Arbutus Biopharma Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.73 and $2.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -12.82%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Arbutus Biopharma Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.54 and $2.49. 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, Arbutus Biopharma Corporation finds support just below today's level at $2.54. If this is broken, then the next support from accumulated volume will be at $2.49 and $2.38.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0650 between high and low, or 2.43%. For the last week the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABUS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Arbutus Biopharma Corporation to open at $2.72, and during the day (based on 14 day Average True Range), to move between $2.59 and $2.85, which gives a possible trading interval of +/-$0.130 (+/-4.79%) up or down from last closing price. If Arbutus Biopharma Corporation takes out the full calculated possible swing range there will be an estimated 9.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.54 (6.62%) than the resistance at $2.92 (7.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Arbutus Biopharma Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.100. We will update the financials statements for Arbutus Biopharma Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.58% in the first trading day after earnings release.
Is Arbutus Biopharma Corporation stock A Buy?
The Arbutus Biopharma Corporation stock holds several negative signals and despite the positive trend, we believe Arbutus Biopharma Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.397 Sell Candidate Downgraded
Predicted Opening Price for Arbutus Biopharma Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.72 ( 0.184%) | $2.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABUS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.78 | 2.21 % | |
| R2 | 2.76 | 1.29 % | ||
| R1 | 2.74 | 0.729 % | ||
| Current price: | 2.72 | |||
| Support | S1 | 2.69 | -1.10 % | |
| S2 | 2.67 | -1.66 % | ||
| S3 | 2.65 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.12 | 14.71 % | |
| R2 | 3.00 | 10.29 % | ||
| R1 | 2.92 | 7.35 % | ||
| Current price | 2.72 | |||
| Support | S1 | 2.54 | -6.62% | |
| S2 | 2.49 | -8.46% | ||
| S3 | 2.38 | -12.50% |
FAQ
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