CytomX Therapeutics Stock Forecast
Red day on Thursday for CytomX Therapeutics
(Updated on Mar 28, 2024)
The CytomX Therapeutics stock price fell by -0.457% on the last day (Thursday, 28th Mar 2024) from $2.19 to $2.18. During the last trading day the stock fluctuated 5.99% from a day low at $2.17 to a day high of $2.30. The price has been going up and down for this period, and there has been a 5.83% gain for the last 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $6.22 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 43.35% during the next 3 months and, with a 90% probability hold a price between $2.63 and $4.31 at the end of this 3-month period.
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CTMX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -20.44%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The CytomX Therapeutics 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 $2.18 and $2.04. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for CytomX Therapeutics stock
CytomX Therapeutics finds support from accumulated volume at $2.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.130 between high and low, or 5.99%. For the last week, the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: $2.09 (-4.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (CTMX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect CytomX Therapeutics to open at $2.22, and during the day (based on 14 day Average True Range), to move between $2.01 and $2.35, which gives a possible trading interval of +/-$0.174 (+/-7.97%) up or down from last closing price. If CytomX Therapeutics takes out the full calculated possible swing range there will be an estimated 15.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.15 (1.38%) than the resistance at $2.25 (3.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CytomX Therapeutics 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 CytomX Therapeutics stock to perform well in the short-term.
Current score: 1.359 Buy Candidate Unchanged
Predicted Opening Price for CytomX Therapeutics of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$2.22 ( 1.68%) | $2.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTMX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.35 | 7.65 % | |
R2 | 2.30 | 5.37 % | ||
R1 | 2.27 | 3.96 % | ||
Current price: | 2.18 | |||
Support | S1 | 2.17 | -0.596 % | |
S2 | 2.14 | -2.00 % | ||
S3 | 2.09 | -4.28 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.65 | 21.56 % | |
R2 | 2.54 | 16.51 % | ||
R1 | 2.25 | 3.21 % | ||
Current price | 2.18 | |||
Support | S1 | 2.15 | -1.38% | |
S2 | 2.06 | -5.50% | ||
S3 | 1.69 | -22.48% |
FAQ
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