Beam Therapeutics Inc. Stock Forecast
Beam Therapeutics Inc. stock price ended at $21.74 on Wednesday, after gaining 2.45%.
(Updated on May 01, 2024)
The Beam Therapeutics Inc. stock price gained 2.45% on the last trading day (Wednesday, 1st May 2024), rising from $21.22 to $21.74. During the last trading day the stock fluctuated 8.66% from a day low at $21.01 to a day high of $22.83. The price has fallen in 6 of the last 10 days and is down by -10.57% for this period. Volume fell on the last day by -130 thousand shares and in total, 1 million shares were bought and sold for approximately $28.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -22.20% during the next 3 months and, with a 90% probability hold a price between $11.90 and $28.97 at the end of this 3-month period.
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BEAM Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Beam Therapeutics Inc. 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 $22.03 and $28.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -51.76%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Beam Therapeutics Inc. stock
Beam Therapeutics Inc. finds support from accumulated volume at $21.60 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 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 $1.82 between high and low, or 8.66%. For the last week, the stock has had daily average volatility of 6.00%.
Beam Therapeutics Inc. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEAM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Beam Therapeutics Inc. to open at $21.86, and during the day (based on 14 day Average True Range), to move between $20.22 and $23.26, which gives a possible trading interval of +/-$1.52 (+/-6.97%) up or down from last closing price. If Beam Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 13.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.60 (0.64%) than the resistance at $23.90 (9.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Beam Therapeutics Inc. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.45. We will update the financials statements for Beam Therapeutics Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.93% in the first trading day after earnings release.
Is Beam Therapeutics Inc. stock A Buy?
Beam Therapeutics Inc. 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: -4.386 Sell Candidate Unchanged
Predicted Opening Price for Beam Therapeutics Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $21.86 ( 0.552%) | $21.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEAM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.68 | 8.92 % | |
| R2 | 22.98 | 5.73 % | ||
| R1 | 22.56 | 3.75 % | ||
| Current price: | 21.74 | |||
| Support | S1 | 21.16 | -2.65 % | |
| S2 | 20.74 | -4.62 % | ||
| S3 | 20.04 | -7.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.06 | 24.47 % | |
| R2 | 25.70 | 18.22 % | ||
| R1 | 23.90 | 9.94 % | ||
| Current price | 21.74 | |||
| Support | S1 | 21.60 | -0.644% | |
| S2 | 21.38 | -1.66% | ||
| S3 | 21.22 | -2.39% |
BEAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 22, 2014 | Feb 04, 2014 | Mar 03, 2014 | $0.225 | 0% |
| 2 | Sep 19, 2013 | Nov 04, 2013 | Dec 02, 2013 | $0.225 | 0% |
| 3 | Jul 31, 2013 | Aug 12, 2013 | Sep 03, 2013 | $0.225 | 0% |
| 4 | Apr 24, 2013 | May 06, 2013 | Jun 03, 2013 | $0.225 | 0% |
| 5 | Jan 28, 2013 | Feb 04, 2013 | Mar 01, 2013 | $0.225 | 0% |
FAQ
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