BriaCell Therapeutics Corp. Stock Forecast
Green day on Friday for BriaCell Therapeutics Corp. stock after gaining 0.89%
(Updated on May 03, 2024)
The BriaCell Therapeutics Corp. stock price gained 0.89% on the last trading day (Friday, 3rd May 2024), rising from $2.24 to $2.26. During the last trading day the stock fluctuated 4.93% from a day low at $2.23 to a day high of $2.34. The price has risen in 6 of the last 10 days and is up by 11.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $64.75 thousand.
The stock lies the upper part of a very wide and falling 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 $2.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -42.38% during the next 3 months and, with a 90% probability hold a price between $0.784 and $1.38 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BCTX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 11.88%. Further rise is indicated until a new top pivot has been found. BriaCell Therapeutics Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BriaCell Therapeutics Corp. 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 $2.49. On a fall, the stock will find some support from the short-term average at $2.19. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BriaCell Therapeutics Corp. stock
BriaCell Therapeutics Corp. finds support from accumulated volume at $2.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.110 between high and low, or 4.93%. For the last week, the stock has had daily average volatility of 6.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCTX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect BriaCell Therapeutics Corp. to open at $2.28, and during the day (based on 14 day Average True Range), to move between $2.07 and $2.45, which gives a possible trading interval of +/-$0.189 (+/-8.36%) up or down from last closing price. If BriaCell Therapeutics Corp. takes out the full calculated possible swing range there will be an estimated 16.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.24 (0.88%) than the resistance at $2.28 (0.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BriaCell Therapeutics Corp. stock A Buy?
BriaCell Therapeutics Corp. 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: -3.737 Sell Candidate Unchanged
Predicted Opening Price for BriaCell Therapeutics Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.28 ( 0.737%) | $2.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.39 | 5.60 % | |
| R2 | 2.34 | 3.75 % | ||
| R1 | 2.32 | 2.60 % | ||
| Current price: | 2.26 | |||
| Support | S1 | 2.23 | -1.12 % | |
| S2 | 2.21 | -2.27 % | ||
| S3 | 2.17 | -4.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.54 | 12.39 % | |
| R2 | 2.52 | 11.50 % | ||
| R1 | 2.28 | 0.88 % | ||
| Current price | 2.26 | |||
| Support | S1 | 2.24 | -0.88% | |
| S2 | 2.17 | -3.98% | ||
| S3 | 2.16 | -4.42% |
FAQ
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