Anavex Life Sciences Corp. Stock Forecast
Anavex Life Sciences Corp. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jul 03, 2024)
The Anavex Life Sciences Corp. stock price fell by -0.242% on the last day (Wednesday, 3rd Jul 2024) from $4.13 to $4.12. During the last trading day the stock fluctuated 4.26% from a day low at $4.11 to a day high of $4.29. The price has been going up and down for this period, and there has been a 6.19% gain 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 -217 thousand shares and in total, 339 thousand shares were bought and sold for approximately $1.40 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Anavex Life Sciences Corp. stock with a 90% probability to be traded between $3.34 and $4.50 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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AVXL Signals & Forecast
The Anavex Life Sciences Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.11 and $4.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 11.35%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Anavex Life Sciences Corp. stock
Anavex Life Sciences Corp. finds support from accumulated volume at $4.08 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 $0.175 between high and low, or 4.26%. For the last week the stock has had daily average volatility of 6.40%.
Our recommended stop-loss: $3.96 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (AVXL) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Anavex Life Sciences Corp. to open at $4.17, and during the day (based on 14 day Average True Range), to move between $3.88 and $4.36, which gives a possible trading interval of +/-$0.236 (+/-5.73%) up or down from last closing price. If Anavex Life Sciences Corp. takes out the full calculated possible swing range there will be an estimated 11.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.08 (0.97%) than the resistance at $4.22 (2.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anavex Life Sciences Corp. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Anavex Life Sciences Corp. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.240 Buy Candidate Upgraded
Predicted Opening Price for Anavex Life Sciences Corp. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $4.17 ( 1.25%) | $4.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVXL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.35 | 5.50% |
| R2 | 4.28 | 3.88% |
| R1 | 4.24 | 2.88% |
| Price | 4.12 | |
| S1 | 4.10 | -0.369% |
| S2 | 4.06 | -1.37% |
| S3 | 4.00 | -2.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.39 | 6.55% |
| R2 | 4.29 | 4.13% |
| R1 | 4.22 | 2.43% |
| Price | 4.12 | |
| S1 | 4.08 | -0.97% |
| S2 | 4.06 | -1.46% |
| S3 | 3.68 | -10.68% |
FAQ
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