Sangamo Therapeutics, Inc. Stock Forecast
Big movements in Sangamo Therapeutics, Inc. stock price on Friday moving 11.97% between high and low
(Updated on Jun 28, 2024)
The Sangamo Therapeutics, Inc. stock price fell by -13.47% on the last day (Friday, 28th Jun 2024) from $0.441 to $0.382. During the last trading day the stock fluctuated 11.97% from a day low at $0.375 to a day high of $0.420. The price has fallen in 5 of the last 10 days and is down by -25.16% for this period. Volume has increased on the last day by 25 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, 25 thousand shares were bought and sold for approximately $9.50 thousand.
Given the current short-term trend, the stock is expected to fall -8.81% during the next 3 months and, with a 90% probability hold a price between $0.348 and $0.603 at the end of this 3-month period.
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0R1D.L Signals & Forecast
There are few to no technical positive signals at the moment. The Sangamo Therapeutics, Inc. 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 $0.441 and $0.548. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -44.69%. 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). Sangamo Therapeutics, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sangamo Therapeutics, Inc. 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 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 $0.0449 between high and low, or 11.97%. For the last week, the stock has had daily average volatility of 6.45%.
Our recommended stop-loss: $0.360 (-5.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (0R1D.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sangamo Therapeutics, Inc. to open at $0.392, and during the day (based on 14 day Average True Range), to move between $0.340 and $0.424, which gives a possible trading interval of +/-$0.0419 (+/-10.98%) up or down from last closing price. If Sangamo Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 21.97% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.402, some $0.0205 (5.37%) from the current price of $0.382, our system finds the risk reward not very attractive.
Is Sangamo Therapeutics, Inc. stock A Buy?
Sangamo Therapeutics, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Sangamo Therapeutics, Inc. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.392 ( 2.77%) | $0.382 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0R1D.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.437 | 14.53% |
R2 | 0.420 | 10.04% |
R1 | 0.409 | 7.26% |
Price | 0.382 | |
S1 | 0.375 | -1.73% |
S2 | 0.365 | -4.50% |
S3 | 0.347 | -8.99% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.452 | 18.29% |
R2 | 0.447 | 17.19% |
R1 | 0.402 | 5.37% |
Price | 0.382 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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