Volatile ride for T2 Biosystems stock price on Tuesday moving between $0.340 and $0.396

The T2 Biosystems stock price fell by -1.14% on the last day (Tuesday, 5th Sep 2023) from $0.350 to $0.346. During the last trading day the stock fluctuated 16.43% from a day low at $0.340 to a day high of $0.396. The price has fallen in 7 of the last 10 days and is down by -34.18% 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 -1 million shares and in total, 54 million shares were bought and sold for approximately $18.84 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.295 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 164.77% during the next 3 months and, with a 90% probability hold a price between $0.782 and $1.82 at the end of this 3-month period.

The T2 Biosystems stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.330 and $0.296. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, August 15, 2023, and so far it has fallen -41.47%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

T2 Biosystems finds support from accumulated volume at $0.343 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0559 between high and low, or 16.43%. For the last week, the stock has had daily average volatility of 22.56%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for T2 Biosystems stock to perform well in the short-term.