Briacell Therapeutics Corp. Stock Forecast
Volatile ride for Briacell Therapeutics Corp. stock price on Tuesday moving between $0.310 and $0.400
(Updated on Jun 18, 2024)
The Briacell Therapeutics Corp. stock price fell by -7.50% on the last day (Tuesday, 18th Jun 2024) from $0.400 to $0.370. During the last trading day the stock fluctuated 29.03% from a day low at $0.310 to a day high of $0.400. The price has been going up and down for this period, and there has been a -22.92% loss for the last 2 weeks. Volume has increased on the last day by 90 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 104 thousand shares were bought and sold for approximately $38.47 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -65.45% during the next 3 months and, with a 90% probability hold a price between $0.0325 and $0.183 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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BCTXW Signals & Forecast
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. The Briacell Therapeutics Corp. 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 $0.397 and $0.605. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -61.46%. Further fall is indicated until a new bottom pivot has been found. Briacell Therapeutics Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Briacell Therapeutics Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0900 between high and low, or 29.03%. For the last week, the stock has had daily average volatility of 19.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCTXW) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Briacell Therapeutics Corp. to open at $0.360, and during the day (based on 14 day Average True Range), to move between $0.256 and $0.484, which gives a possible trading interval of +/-$0.114 (+/-30.81%) up or down from last closing price. If Briacell Therapeutics Corp. takes out the full calculated possible swing range there will be an estimated 61.61% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.400, some $0.0299 (8.08%) from the current price of $0.370, our system finds the risk reward not very attractive.
Is Briacell Therapeutics Corp. stock A Buy?
Briacell Therapeutics Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.058 Strong Sell Candidate Downgraded
Predicted Opening Price for Briacell Therapeutics Corp. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $0.360 ( 2.70%) | $0.370 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCTXW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.450 | 21.62% |
| R2 | 0.416 | 12.33% |
| R1 | 0.394 | 6.59% |
| Price | 0.370 | |
| S1 | 0.326 | -11.99% |
| S2 | 0.304 | -17.74% |
| S3 | 0.270 | -27.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.420 | 13.51% |
| R2 | 0.412 | 11.41% |
| R1 | 0.400 | 8.08% |
| Price | 0.370 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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