Redhill Biopharma Ltd. Stock Forecast
Redhill Biopharma Ltd. stock price down 4.98% on Monday
(Updated on Apr 15, 2024)
The Redhill Biopharma Ltd. stock price fell by -4.98% on the last day (Monday, 15th Apr 2024) from $0.425 to $0.404. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 8.26% from a day low at $0.403 to a day high of $0.437. The price has fallen in 8 of the last 10 days and is down by -26.48% for this period. 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 -227 thousand shares and in total, 317 thousand shares were bought and sold for approximately $128.04 thousand.
The stock lies in the middle of a very 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 -32.67% during the next 3 months and, with a 90% probability hold a price between $0.160 and $0.506 at the end of this 3-month period.
RDHL Signals & Forecast
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 Redhill Biopharma Ltd. 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 $0.474 and $0.522. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -26.48%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Redhill Biopharma Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0333 between high and low, or 8.26%. For the last week the stock has had daily average volatility of 9.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RDHL) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Redhill Biopharma Ltd. to open at $0.415, and during the day (based on 14 day Average True Range), to move between $0.367 and $0.442, which gives a possible trading interval of +/-$0.0377 (+/-9.32%) up or down from last closing price. If Redhill Biopharma Ltd. takes out the full calculated possible swing range there will be an estimated 18.65% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.425, some $0.0212 (5.24%) from the current price of $0.404, our system finds the risk reward not very attractive.
Is Redhill Biopharma Ltd. stock A Buy?
Redhill Biopharma Ltd. 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: -6.669 Strong Sell Candidate Unchanged
Predicted Opening Price for Redhill Biopharma Ltd. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $0.415 ( 2.58%) | $0.404 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDHL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.448 | 10.82 % | |
| R2 | 0.435 | 7.67 % | ||
| R1 | 0.427 | 5.73 % | ||
| Current price: | 0.404 | |||
| Support | S1 | 0.402 | -0.566 % | |
| S2 | 0.394 | -2.51 % | ||
| S3 | 0.381 | -5.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.504 | 24.57 % | |
| R2 | 0.461 | 14.05 % | ||
| R1 | 0.425 | 5.24 % | ||
| Current price | 0.404 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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