GlycoMimetics Stock Forecast
High volatility in GlycoMimetics stock price on Wednesday which ended trading at $1.86
(Updated on Apr 24, 2024)
The GlycoMimetics stock price gained 1.09% on the last trading day (Wednesday, 24th Apr 2024), rising from $1.84 to $1.86. During the last trading day the stock fluctuated 11.17% from a day low at $1.79 to a day high of $1.99. The price has fallen in 6 of the last 10 days and is down by -24.29% for this period. Volume fell on the last day by -573 thousand shares and in total, 656 thousand shares were bought and sold for approximately $1.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.77 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -26.31% during the next 3 months and, with a 90% probability hold a price between $1.30 and $2.11 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.
GLYC Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.06%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GlycoMimetics 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 $2.00 and $2.60. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for GlycoMimetics stock
GlycoMimetics finds support from accumulated volume at $1.84 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 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 $0.200 between high and low, or 11.17%. For the last week the stock has had daily average volatility of 11.41%.
GlycoMimetics is oversold on RSI14 (23). 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 (GLYC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect GlycoMimetics to open at $1.88, and during the day (based on 14 day Average True Range), to move between $1.64 and $2.07, which gives a possible trading interval of +/-$0.216 (+/-11.66%) up or down from last closing price. If GlycoMimetics takes out the full calculated possible swing range there will be an estimated 23.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.84 (1.08%) than the resistance at $1.93 (3.77%), 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
GlycoMimetics will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for GlycoMimetics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.07% in the first trading day after earnings release.
Is GlycoMimetics stock A Buy?
GlycoMimetics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.621 Sell Candidate Unchanged
Predicted Opening Price for GlycoMimetics of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.88 ( 1.26%) | $1.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLYC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.08 | 12.04 % | |
| R2 | 2.00 | 7.92 % | ||
| R1 | 1.95 | 5.38 % | ||
| Current price: | 1.86 | |||
| Support | S1 | 1.80 | -2.86 % | |
| S2 | 1.75 | -5.41 % | ||
| S3 | 1.68 | -9.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.28 | 22.91 % | |
| R2 | 2.16 | 16.44 % | ||
| R1 | 1.93 | 3.77 % | ||
| Current price | 1.86 | |||
| Support | S1 | 1.84 | -1.08% | |
| S2 | 1.80 | -2.96% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy GlycoMimetics Stock.
