RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CNTB
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Volatile ride for Connect Biopharma Holdings Ltd American stock price on Wednesday moving between $1.34 and $1.65
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 20, 2024 Gain 28.80% PDF

The Connect Biopharma Holdings Ltd American stock price gained 21.05% on the last trading day (Wednesday, 27th Mar 2024), rising from $1.33 to $1.61. During the last trading day the stock fluctuated 22.95% from a day low at $1.34 to a day high of $1.65. The price has been going up and down for this period, and there has been a 34.17% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 206 thousand more shares were traded than the day before. In total, 340 thousand shares were bought and sold for approximately $547.88 thousand.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.48, a level that may pose a second chance to hit a runner. According to fan-theory $1.85 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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CNTB Signals & Forecast

The Connect Biopharma Holdings Ltd American 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 $1.31 and $1.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 43.75%. 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). Connect Biopharma Holdings Ltd American 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 Connect Biopharma Holdings Ltd American stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.40 and $1.24. 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, Connect Biopharma Holdings Ltd American finds support just below today's level at $1.40. If this is broken, then the next support from accumulated volume will be at $1.24 and $1.24.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.308 between high and low, or 22.95%. For the last week, the stock has had daily average volatility of 10.79%.

Our recommended stop-loss: $1.55 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (CNTB) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Connect Biopharma Holdings Limited American Depositary Shares to open at $1.53, and during the day (based on 14 day Average True Range), to move between $1.47 and $1.75, which gives a possible trading interval of +/-$0.139 (+/-8.62%) up or down from last closing price. If Connect Biopharma Holdings Limited American Depositary Shares takes out the full calculated possible swing range there will be an estimated 17.24% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $1.40, some $0.210 (13.04%) from the current price of $1.61, our system finds the risk reward attractive.

Is Connect Biopharma Holdings Limited American Depositary Shares stock A Buy?

Connect Biopharma Holdings Ltd American holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Connect Biopharma Holdings Limited American Depositary Shares of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$1.53 ( 4.81%) $1.61

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

Trading levels for CNTB

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.84 14.29 %
R2 1.72 6.99 %
R1 1.65 2.48 %
Current price: 1.61
Support S1 1.42 -12.11 %
S2 1.34 -16.62 %
S3 1.23 -23.91 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 1.61
Support S1 1.40 -13.04%
S2 1.24 -22.98%
S3 1.24 -23.29%

FAQ

What is the symbol for Connect Biopharma Holdings Limited American Depositary Shares Stock and on which exchange is it traded?
The symbol for Connect Biopharma Holdings Limited American Depositary Shares is CNTB and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Connect Biopharma Holdings Limited American Depositary Shares Stock?
Connect Biopharma Holdings Ltd American holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

How to buy Connect Biopharma Holdings Limited American Depositary Shares Stock?
Connect Biopharma Holdings Limited American Depositary Shares Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Connect Biopharma Holdings Limited American Depositary Shares Stock.

What's the current price of Connect Biopharma Holdings Limited American Depositary Shares Stock?
As of the end of day on the 2024-03-27, the price of an Connect Biopharma Holdings Limited American Depositary Shares (CNTB) share was $1.61.

What is the 52-week high and low for Connect Biopharma Holdings Limited American Depositary Shares Stock?
The 52-week high for Connect Biopharma Holdings Limited American Depositary Shares Stock is $2.84 and the 52-week low is $0.550.

What is the market capitalization of Connect Biopharma Holdings Limited American Depositary Shares Stock?
As of the 2024-03-27, the market capitalization of Connect Biopharma Holdings Limited American Depositary Shares is 73.245M.

When is the next earnings date for Connect Biopharma Holdings Limited American Depositary Shares?
The upcoming earnings date for Connect Biopharma Holdings Limited American Depositary Shares is Apr 09, 2024.
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About Connect Biopharma Holdings Limited American Depositary Shares

Connect Biopharma Holdings Limited American Depositary Shares Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on the discovery and development of immune modulators for the treatment of serious autoimmune diseases and inflammation. The company's lead product candidate is CBP-201, an anti-interleukin-4 receptor alpha antibody, which is in Phase IIb clinical trial for the treatment of inflammatory allergic diseases, such as atopic dermatitis, asthma, and chronic rhinosin... CNTB Profile

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