Cidara Therapeutics Stock Forecast

High volatility in Cidara Therapeutics stock price on Tuesday which ended trading at $0.513
(Updated on Apr 23, 2024)

CDTX Signals & Forecast

There are few to no technical positive signals at the moment. The Cidara Therapeutics 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 $0.672 and $0.791. 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 -55.82%. 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 Cidara Therapeutics stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0798 between high and low, or 15.95%. For the last week the stock has had daily average volatility of 14.37%.

Cidara Therapeutics is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CDTX) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Cidara Therapeutics to open at $0.531, and during the day (based on 14 day Average True Range), to move between $0.403 and $0.622, which gives a possible trading interval of +/-$0.109 (+/-21.32%) up or down from last closing price. If Cidara Therapeutics takes out the full calculated possible swing range there will be an estimated 42.64% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.514, some $0.0014 (0.27%) from the current price of $0.513, our system finds the risk reward not very attractive.

Is Cidara Therapeutics stock A Buy?

The Cidara Therapeutics stock holds several negative signals and despite the positive trend, we believe Cidara Therapeutics 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 Sell to a Strong Sell candidate.

Current score: -5.750 Strong Sell Candidate Downgraded

Predicted Opening Price for Cidara Therapeutics of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.