Black Diamond Therapeutics Inc. Stock Forecast
Stronger technical forecast for Black Diamond Therapeutics Inc. stock price after Tuesday trading.
(Updated on May 07, 2024)
The Black Diamond Therapeutics Inc. stock price fell by -2.57% on the last day (Tuesday, 7th May 2024) from $7.39 to $7.20. During the last trading day the stock fluctuated 6.84% from a day low at $7.02 to a day high of $7.50. The price has risen in 7 of the last 10 days and is up by 43.71% over the past 2 weeks. Volume has increased on the last day by 109 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, 1 million shares were bought and sold for approximately $7.24 million.
The stock lies in the upper part of a very wide and strong rising 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 $7.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.70% during the next 3 months and, with a 90% probability hold a price between $6.31 and $9.62 at the end of this 3-month period.
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BDTX Signals & Forecast
The Black Diamond Therapeutics Inc. 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 $6.50 and $5.44. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -2.57%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Black Diamond Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.87 and $5.57. 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, Black Diamond Therapeutics Inc. finds support just below today's level at $5.87. If this is broken, then the next support from accumulated volume will be at $5.57 and $5.41.
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 $0.480 between high and low, or 6.84%. For the last week, the stock has had daily average volatility of 10.41%.
Our recommended stop-loss: $6.94 (-3.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BDTX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Black Diamond Therapeutics Inc. to open at $7.24, and during the day (based on 14 day Average True Range), to move between $6.68 and $7.72, which gives a possible trading interval of +/-$0.523 (+/-7.27%) up or down from last closing price. If Black Diamond Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 14.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.39 (2.64%) than the support at $5.87 (18.54%), 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.
Earnings coming up
Black Diamond Therapeutics Inc. will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.440. We will update the financials statements for Black Diamond Therapeutics Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.59% in the first trading day after earnings release.
Is Black Diamond Therapeutics Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Black Diamond Therapeutics Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.332 Buy Candidate Upgraded
Predicted Opening Price for Black Diamond Therapeutics Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $7.24 ( 0.556%) | $7.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BDTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.72 | 7.22 % | |
| R2 | 7.54 | 4.68 % | ||
| R1 | 7.42 | 3.10 % | ||
| Current price: | 7.20 | |||
| Support | S1 | 7.06 | -1.99 % | |
| S2 | 6.94 | -3.56 % | ||
| S3 | 6.76 | -6.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 7.39 | 2.64 % | ||
| Current price | 7.20 | |||
| Support | S1 | 5.87 | -18.54% | |
| S2 | 5.57 | -22.64% | ||
| S3 | 5.41 | -24.86% |
FAQ
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