Abeona Therapeutics Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Abeona Therapeutics Inc. stock price on Wednesday moving between $3.75 and $4.40
(Updated on May 01, 2024)
The Abeona Therapeutics Inc. stock price fell by -5.56% on the last day (Wednesday, 1st May 2024) from $4.14 to $3.91. During the last trading day the stock fluctuated 17.32% from a day low at $3.75 to a day high of $4.40. The price has been going up and down for this period, and there has been a -50.69% loss for the last 2 weeks. 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, 1 million shares were bought and sold for approximately $4.77 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.13 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.56% during the next 3 months and, with a 90% probability hold a price between $2.96 and $7.90 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ABEO Signals & Forecast
There are mixed signals in the stock today. The Abeona Therapeutics Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.80. On a fall, the stock will find some support from the short-term average at $3.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -54.95%. 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.
Support, Risk & Stop-loss for Abeona Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.44 and $3.41. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Abeona Therapeutics Inc. finds support just below today's level at $3.44. If this is broken, then the next support from accumulated volume will be at $3.41 and $3.17.
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 $0.650 between high and low, or 17.32%. For the last week, the stock has had daily average volatility of 12.97%.
Abeona Therapeutics Inc. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABEO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Abeona Therapeutics Inc. to open at $4.02, and during the day (based on 14 day Average True Range), to move between $3.24 and $4.58, which gives a possible trading interval of +/-$0.672 (+/-17.19%) up or down from last closing price. If Abeona Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 34.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.14 (5.88%) than the support at $3.44 (12.02%), 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.
Earnings coming up
Abeona Therapeutics Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.470. We will update the financials statements for Abeona Therapeutics Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.60% in the first trading day after earnings release.
Is Abeona Therapeutics Inc. stock A Buy?
Abeona Therapeutics 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.216 Strong Sell Candidate Downgraded
Predicted Opening Price for Abeona Therapeutics Inc. of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$4.02 ( 2.82%) | $3.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABEO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.67 | 19.43 % | |
R2 | 4.42 | 13.08 % | ||
R1 | 4.27 | 9.16 % | ||
Current price: | 3.91 | |||
Support | S1 | 3.77 | -3.53 % | |
S2 | 3.62 | -7.45 % | ||
S3 | 3.37 | -13.80 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.42 | 13.04 % | |
R2 | 4.30 | 9.97 % | ||
R1 | 4.14 | 5.88 % | ||
Current price | 3.91 | |||
Support | S1 | 3.44 | -12.02% | |
S2 | 3.41 | -12.79% | ||
S3 | 3.17 | -18.93% |
ABEO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 31, 2000 | Mar 31, 2000 | Mar 31, 2000 | $3,706.25 | 8.55% |
FAQ
Click here for our free guide on how to buy Abeona Therapeutics Inc. Stock.