Carna Biosciences,Inc. Stock Forecast
Carna Biosciences,Inc. stock price down 0.519% on Tuesday
(Updated on Jun 25, 2024)
The Carna Biosciences,Inc. stock price fell by -0.519% on the last day (Tuesday, 25th Jun 2024) from JP¥385.00 to JP¥383.00. During the last trading day the stock fluctuated 1.83% from a day low at JP¥383.00 to a day high of JP¥390.00. The price has fallen in 6 of the last 10 days and is down by -3.77% 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 -8 thousand shares and in total, 95 thousand shares were bought and sold for approximately JP¥36.35 million.
The stock lies in the middle of a 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 -21.63% during the next 3 months and, with a 90% probability hold a price between JP¥291.86 and JP¥311.83 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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4572.T Signals & Forecast
There are mixed signals in the stock today. The Carna Biosciences,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 JP¥384.14 and JP¥403.11. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 1.32%. 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).
Support, Risk & Stop-loss for Carna Biosciences,Inc. stock
Carna Biosciences,Inc. finds support from accumulated volume at JP¥380.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥7.00 (1.83%) between high and low. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (4572.T) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Carna Biosciences,Inc. to open at JP¥385.33, and during the day (based on 14 day Average True Range), to move between JP¥368.42 and JP¥397.58, which gives a possible trading interval of +/-JP¥14.58 (+/-3.81%) up or down from last closing price. If Carna Biosciences,Inc. takes out the full calculated possible swing range there will be an estimated 7.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥380.00 (0.78%) than the resistance at JP¥388.00 (1.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Carna Biosciences,Inc. stock A Buy?
Carna Biosciences,Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.439 Sell Candidate Unchanged
Predicted Opening Price for Carna Biosciences,Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| JP¥385.33 ( 0.609%) | JP¥383.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4572.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 392.33 | 2.44% |
| R2 | 389.66 | 1.74% |
| R1 | 388.01 | 1.31% |
| Price | 383.00 | |
| S1 | 382.66 | -0.0889% |
| S2 | 381.01 | -0.520% |
| S3 | 378.33 | -1.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 404.00 | 5.48% |
| R2 | 396.00 | 3.39% |
| R1 | 388.00 | 1.31% |
| Price | 383.00 | |
| S1 | 380.00 | -0.783% |
| S2 | 379.00 | -1.04% |
| S3 | 378.00 | -1.31% |
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