Cerevel Therapeutics Holdings, Inc. Stock Forecast
Cerevel Therapeutics Holdings, Inc. stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Cerevel Therapeutics Holdings, Inc. stock price fell by -0.590% on the last day (Friday, 17th May 2024) from $42.35 to $42.10. During the last trading day the stock fluctuated 0.677% from a day low at $42.09 to a day high of $42.38. The price has fallen in 6 of the last 10 days and is down by -1.06% for this period. Volume has increased on the last day by 65 thousand 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, 1 million shares were bought and sold for approximately $47.59 million.
The stock lies in the middle of a narrow and weak 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 2.86% during the next 3 months and, with a 90% probability hold a price between $42.95 and $44.64 at the end of this 3-month period.
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CERE Signals & Forecast
There are few to no technical positive signals at the moment. The Cerevel Therapeutics Holdings, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $42.22 and $42.19. 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 29, 2024, and so far it has fallen -1.52%. 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.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -3.15% to $40.77 within 29 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Cerevel Therapeutics Holdings, Inc. stock
Cerevel Therapeutics Holdings, Inc. finds support from accumulated volume at $41.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.285 between high and low, or 0.677%. For the last week the stock has had daily average volatility of 0.793%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CERE) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Cerevel Therapeutics Holdings, Inc. to open at $42.19, and during the day (based on 14 day Average True Range), to move between $41.76 and $42.44, which gives a possible trading interval of +/-$0.342 (+/-0.81%) up or down from last closing price. If Cerevel Therapeutics Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 1.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.21 (0.26%) than the support at $41.85 (0.59%), 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 Cerevel Therapeutics Holdings, Inc. stock A Buy?
The Cerevel Therapeutics Holdings, Inc. stock holds several negative signals and despite the positive trend, we believe Cerevel Therapeutics Holdings, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.107 Sell Candidate Downgraded
Predicted Opening Price for Cerevel Therapeutics Holdings, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $42.19 ( 0.210%) | $42.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CERE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.47 | 0.89 % | |
| R2 | 42.36 | 0.628 % | ||
| R1 | 42.30 | 0.468 % | ||
| Current price: | 42.10 | |||
| Support | S1 | 42.08 | -0.0488 % | |
| S2 | 42.01 | -0.209 % | ||
| S3 | 41.90 | -0.467 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.56 | 1.09 % | |
| R2 | 42.33 | 0.546 % | ||
| R1 | 42.21 | 0.261 % | ||
| Current price | 42.10 | |||
| Support | S1 | 41.85 | -0.594% | |
| S2 | 41.04 | -2.52% | ||
| S3 | 40.93 | -2.78% |
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