Akero Therapeutics Inc. Stock Forecast
Green day on Wednesday for Akero Therapeutics Inc.
(Updated on May 01, 2024)
The Akero Therapeutics Inc. stock price gained 0.96% on the last trading day (Wednesday, 1st May 2024), rising from $19.89 to $20.08. During the last trading day the stock fluctuated 4.67% from a day low at $19.72 to a day high of $20.64. The price has risen in 6 of the last 10 days but is still down by -7.04% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 368 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $20.57 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 $18.79 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.49% during the next 3 months and, with a 90% probability hold a price between $17.57 and $27.98 at the end of this 3-month period.
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AKRO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 6.08%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Akero 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 $23.04. On a fall, the stock will find some support from the short-term average at $19.93. 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.
Support, Risk & Stop-loss for Akero Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $18.60 and $17.89. 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, Akero Therapeutics Inc. finds support just below today's level at $18.60. If this is broken, then the next support from accumulated volume will be at $17.89 and $17.76.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.92 between high and low, or 4.67%. For the last week, the stock has had daily average volatility of 5.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AKRO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Akero Therapeutics Inc. to open at $20.15, and during the day (based on 14 day Average True Range), to move between $18.87 and $21.29, which gives a possible trading interval of +/-$1.21 (+/-6.02%) up or down from last closing price. If Akero Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 12.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.59 (2.54%) than the support at $18.60 (7.37%), 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 Akero Therapeutics Inc. stock A Buy?
Akero 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.
Current score: -1.191 Sell Candidate Unchanged
Predicted Opening Price for Akero Therapeutics Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $20.15 ( 0.332%) | $20.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKRO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.07 | 4.91 % | |
| R2 | 20.72 | 3.16 % | ||
| R1 | 20.50 | 2.08 % | ||
| Current price: | 20.08 | |||
| Support | S1 | 19.80 | -1.42 % | |
| S2 | 19.58 | -2.50 % | ||
| S3 | 19.23 | -4.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.88 | 8.96 % | |
| R2 | 21.75 | 8.32 % | ||
| R1 | 20.59 | 2.54 % | ||
| Current price | 20.08 | |||
| Support | S1 | 18.60 | -7.37% | |
| S2 | 17.89 | -10.91% | ||
| S3 | 17.76 | -11.55% |
FAQ
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