$3.00 (-1.96%)

Volume: 457.221k

Closed: Mar 28, 2023

Hollow Logo Score: 0.917
Arbutus Biopharma Corporation Stock
$3.00 (-1.96%)

Volume: 457.221k

Closed: Mar 28, 2023

Score Hollow Logo 0.917
NASDAQ:ABUS

Arbutus Biopharma Corporation Stock Forecast

Updated Tue, Mar 28, 2023
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.


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Weaker technical forecast for Arbutus Biopharma Corporation as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2023)


Buy or Hold candidate since 2023-03-13 Gain 1.35% PDF

The Arbutus Biopharma Corporation stock price fell by -1.96% on the last day (Tuesday, 28th Mar 2023) from $3.06 to $3.00. During the last trading day the stock fluctuated 3.83% from a day low at $3.00 to a day high of $3.12. The price has risen in 6 of the last 10 days but is still down by -0.99% 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 -158 thousand shares and in total, 457 thousand shares were bought and sold for approximately $1.37 million.

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The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $3.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 17.08% during the next 3 months and, with a 90% probability hold a price between $3.12 and $3.59 at the end of this 3-month period.

ABUS Signals & Forecast

The Arbutus Biopharma Corporation stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $3.00. On a fall, the stock will find some support from the long-term average at approximately $2.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, March 27, 2023, and so far it has fallen -1.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

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Support, Risk & Stop-loss for Arbutus Biopharma Corporation stock

Arbutus Biopharma Corporation finds support from accumulated volume at $2.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.115 between high and low, or 3.83%. For the last week the stock has had daily average volatility of 3.77%.

Our recommended stop-loss: $2.86 (-4.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 days ago.)

Trading Expectations (ABUS) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Arbutus Biopharma Corporation to open at $3.04, and during the day (based on 14 day Average True Range), to move between $2.88 and $3.12, which gives a possible trading interval of +/-$0.125 (+/-4.16%) up or down from last closing price. If Arbutus Biopharma Corporation takes out the full calculated possible swing range there will be an estimated 8.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.01 (0.33%) than the support at $2.95 (1.67%), 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 Arbutus Biopharma Corporation stock A Buy?

Arbutus Biopharma Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.917 Open Broker Account

Hold/Accumulate Downgraded

Predicted Opening Price for Arbutus Biopharma Corporation of Wednesday, March 29, 2023

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price March 29, 2023 Current price
$3.04 $3.00 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price
Resistance R3 3.15 5.11 %
R2 3.11 3.65 %
R1 3.08 2.74 %
Current price: 3.00
Support S1 2.99 -0.187 %
S2 2.97 -1.09 %
S3 2.92 -2.56 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 3.03 1.00 %
R2 3.02 0.667 %
R1 3.01 0.333 %
Current price 3.00
Support S1 2.95 -1.67%
S2 2.76 -8.00%
S3 2.74 -8.67%

FAQ

What is the symbol for Arbutus Biopharma Corporation Stock and on which exchange is it traded?
The symbol for Arbutus Biopharma Corporation is ABUS and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Arbutus Biopharma Corporation Stock?
Arbutus Biopharma Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

How to buy Arbutus Biopharma Corporation Stock?
Arbutus Biopharma Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Arbutus Biopharma Corporation Stock.

What's the current price of Arbutus Biopharma Corporation Stock?
As of the end of day on the 2023-03-28, the price of an Arbutus Biopharma Corporation (ABUS) share was $3.00.

What is the 52-week high and low for Arbutus Biopharma Corporation Stock?
The 52-week high for Arbutus Biopharma Corporation Stock is $3.22 and the 52-week low is $1.85.

What is the market capitalization of Arbutus Biopharma Corporation Stock?
As of the 2023-03-28, the market capitalization of Arbutus Biopharma Corporation is 461.475M.

When is the next earnings date for Arbutus Biopharma Corporation?
The upcoming earnings date for Arbutus Biopharma Corporation is 2023-05-04 00:00:00.

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About Arbutus Biopharma Corporation

Arbutus Biopharma Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel ... ABUS Profile

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