Corbus Pharmaceuticals Holdings Stock Forecast
Big movements in Corbus Pharmaceuticals Holdings stock price on Friday moving 11.37% between high and low
(Updated on Apr 19, 2024)
The Corbus Pharmaceuticals Holdings stock price gained 7.42% on the last trading day (Friday, 19th Apr 2024), rising from $36.53 to $39.24. During the last trading day the stock fluctuated 11.37% from a day low at $35.79 to a day high of $39.86. The price has risen in 6 of the last 10 days but is still down by -1.83% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 150 thousand more shares were traded than the day before. In total, 278 thousand shares were bought and sold for approximately $10.91 million.
The stock lies in the middle of a very wide and strong 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 85.70% during the next 3 months and, with a 90% probability hold a price between $62.40 and $108.41 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CRBP Signals & Forecast
The Corbus Pharmaceuticals Holdings stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $39.66. On a fall, the stock will find some support from the long-term average at approximately $39.23. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -16.65%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Corbus Pharmaceuticals Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $34.60 and $30.90. 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, Corbus Pharmaceuticals Holdings finds support just below today's level at $34.60. If this is broken, then the next support from accumulated volume will be at $30.90 and $29.49.
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 $4.07 between high and low, or 11.37%. For the last week, the stock has had daily average volatility of 10.17%.
Our recommended stop-loss: $36.91 (-5.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (CRBP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Corbus Pharmaceuticals Holdings to open at $38.30, and during the day (based on 14 day Average True Range), to move between $35.48 and $43.00, which gives a possible trading interval of +/-$3.76 (+/-9.59%) up or down from last closing price. If Corbus Pharmaceuticals Holdings takes out the full calculated possible swing range there will be an estimated 19.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40.32 (2.75%) than the support at $34.60 (11.82%), 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 Corbus Pharmaceuticals Holdings stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Corbus Pharmaceuticals Holdings stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.761 Buy Candidate Upgraded
Predicted Opening Price for Corbus Pharmaceuticals Holdings of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $38.30 ( 2.40%) | $39.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.37 | 7.97 % | |
| R2 | 40.81 | 4.01 % | ||
| R1 | 39.85 | 1.56 % | ||
| Current price: | 39.24 | |||
| Support | S1 | 36.74 | -6.37 % | |
| S2 | 35.78 | -8.81 % | ||
| S3 | 34.23 | -12.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.93 | 14.50 % | |
| R2 | 43.68 | 11.31 % | ||
| R1 | 40.32 | 2.75 % | ||
| Current price | 39.24 | |||
| Support | S1 | 34.60 | -11.82% | |
| S2 | 30.90 | -21.25% | ||
| S3 | 29.49 | -24.85% |
FAQ
Click here for our free guide on how to buy Corbus Pharmaceuticals Holdings Stock.
