ImmuCell Corporation Stock Forecast
ImmuCell Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The ImmuCell Corporation stock price gained 0.199% on the last trading day (Wednesday, 24th Apr 2024), rising from $5.03 to $5.04. During the last trading day the stock fluctuated 4.98% from a day low at $4.82 to a day high of $5.06. The price has fallen in 4 of the last 10 days and is down by -3.08% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $36.10 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.34% during the next 3 months and, with a 90% probability hold a price between $4.77 and $5.26 at the end of this 3-month period.
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ICCC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 0.398%. Further rise is indicated until a new top pivot has been found. ImmuCell Corporation 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ImmuCell Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.14. On a fall, the stock will find some support from the short-term average at $5.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Tuesday, March 19, 2024 and based on theory for this formation the price should go up by 15.52% to $5.82 within 19 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for ImmuCell Corporation stock
ImmuCell Corporation finds support from accumulated volume at $5.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.240 (4.98%) between high and low. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $4.73 (-6.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ICCC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ImmuCell Corporation to open at $4.97, and during the day (based on 14 day Average True Range), to move between $4.90 and $5.18, which gives a possible trading interval of +/-$0.139 (+/-2.76%) up or down from last closing price. If ImmuCell Corporation takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.05 (0.20%) than the support at $5.02 (0.40%), 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 ImmuCell Corporation stock A Buy?
ImmuCell Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 ImmuCell Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $4.97 ( 1.32%) | $5.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.21 | 3.44 % | |
| R2 | 5.12 | 1.62 % | ||
| R1 | 5.07 | 0.496 % | ||
| Current price: | 5.04 | |||
| Support | S1 | 4.88 | -3.14 % | |
| S2 | 4.83 | -4.27 % | ||
| S3 | 4.73 | -6.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.20 | 3.17 % | |
| R2 | 5.17 | 2.58 % | ||
| R1 | 5.05 | 0.198 % | ||
| Current price | 5.04 | |||
| Support | S1 | 5.02 | -0.397% | |
| S2 | 4.99 | -0.99% | ||
| S3 | 4.98 | -1.19% |
FAQ
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