Allogene Therapeutics Stock Forecast
Allogene Therapeutics stock price ended at $3.47 on Friday, after gaining 0.289%.
(Updated on Apr 19, 2024)
The Allogene Therapeutics stock price gained 0.289% on the last trading day (Friday, 19th Apr 2024), rising from $3.46 to $3.47. During the last trading day the stock fluctuated 5.18% from a day low at $3.38 to a day high of $3.56. The price has fallen in 6 of the last 10 days and is down by -12.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 729 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $6.85 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $3.23 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Allogene Therapeutics stock with a 90% probability to be traded between $3.27 and $5.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALLO Signals & Forecast
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 Allogene Therapeutics 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 $3.61 and $4.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -38.37%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Allogene Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.21 and $3.20. 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, Allogene Therapeutics finds support just below today's level at $3.21. If this is broken, then the next support from accumulated volume will be at $3.20 and $3.16.
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 $0.175 between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 5.23%.
Allogene Therapeutics is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALLO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Allogene Therapeutics Inc. to open at $3.47, and during the day (based on 14 day Average True Range), to move between $3.22 and $3.72, which gives a possible trading interval of +/-$0.252 (+/-7.25%) up or down from last closing price. If Allogene Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 14.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.21 (7.49%) than the resistance at $4.05 (16.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Allogene Therapeutics Inc. stock A Buy?
Allogene Therapeutics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.589 Sell Candidate Unchanged
Predicted Opening Price for Allogene Therapeutics Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $3.47 ( 0.0480%) | $3.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.64 | 5.00 % | |
| R2 | 3.58 | 3.07 % | ||
| R1 | 3.54 | 1.88 % | ||
| Current price: | 3.47 | |||
| Support | S1 | 3.40 | -1.97 % | |
| S2 | 3.36 | -3.16 % | ||
| S3 | 3.29 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.15 | 19.60 % | |
| R2 | 4.14 | 19.31 % | ||
| R1 | 4.05 | 16.71 % | ||
| Current price | 3.47 | |||
| Support | S1 | 3.21 | -7.49% | |
| S2 | 3.20 | -7.78% | ||
| S3 | 3.16 | -8.93% |
FAQ
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