Lumos Pharma Inc. Stock Forecast
Lumos Pharma Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Lumos Pharma Inc. stock price fell by -1.25% on the last day (Thursday, 25th Apr 2024) from $2.80 to $2.76. During the last trading day the stock fluctuated 3.56% from a day low at $2.71 to a day high of $2.81. The price has fallen in 5 of the last 10 days but is still up by 1.85% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -45 thousand shares and in total, 2 thousand shares were bought and sold for approximately $4.33 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $2.83 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.96% during the next 3 months and, with a 90% probability hold a price between $2.09 and $2.47 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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LUMO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 12.65%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lumos Pharma Inc. 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 $2.77. On a fall, the stock will find some support from the short-term average at $2.68. 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. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Lumos Pharma Inc. stock
Lumos Pharma Inc. finds support from accumulated volume at $2.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0967 between high and low, or 3.56%. For the last week the stock has had daily average volatility of 6.35%.
Our recommended stop-loss: $2.65 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (LUMO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Lumos Pharma Inc. to open at $2.76, and during the day (based on 14 day Average True Range), to move between $2.59 and $2.93, which gives a possible trading interval of +/-$0.172 (+/-6.25%) up or down from last closing price. If Lumos Pharma Inc. takes out the full calculated possible swing range there will be an estimated 12.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.70 (2.17%) than the resistance at $3.01 (9.06%), 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
Lumos Pharma Inc. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.21. We will update the financials statements for Lumos Pharma Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.47% in the first trading day after earnings release.
Is Lumos Pharma Inc. stock A Buy?
Lumos Pharma Inc. 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: -0.357 Hold/Accumulate Upgraded
Predicted Opening Price for Lumos Pharma Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.76 ( 0.0399%) | $2.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.86 | 3.54 % | |
| R2 | 2.82 | 2.21 % | ||
| R1 | 2.80 | 1.38 % | ||
| Current price: | 2.76 | |||
| Support | S1 | 2.72 | -1.30 % | |
| S2 | 2.70 | -2.13 % | ||
| S3 | 2.66 | -3.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 10.51 % | |
| R2 | 3.04 | 10.14 % | ||
| R1 | 3.01 | 9.06 % | ||
| Current price | 2.76 | |||
| Support | S1 | 2.70 | -2.17% | |
| S2 | 2.65 | -3.99% | ||
| S3 | 2.52 | -8.70% |
FAQ
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