Biora Therapeutics, Inc. Stock Forecast
High volatility in Biora Therapeutics, Inc. stock price on Monday which ended trading at $0.672
(Updated on Jun 17, 2024)
The Biora Therapeutics, Inc. stock price fell by -10.12% on the last day (Monday, 17th Jun 2024) from $0.747 to $0.672. During the last trading day the stock fluctuated 13.26% from a day low at $0.671 to a day high of $0.760. The price has risen in 7 of the last 10 days and is up by 4.54% over the past 2 weeks. Volume has increased on the last day by 237 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, 379 thousand shares were bought and sold for approximately $254.61 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 $0.720 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 -33.62% during the next 3 months and, with a 90% probability hold a price between $0.268 and $0.478 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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BIOR 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 Biora Therapeutics, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.715 and $0.689. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -11.63%. Further fall is indicated until a new bottom pivot has been found. Biora Therapeutics, Inc. 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".
Support, Risk & Stop-loss for Biora Therapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.620 and $0.600. 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, Biora Therapeutics, Inc. finds support just below today's level at $0.620. If this is broken, then the next support from accumulated volume will be at $0.600 and $0.594.
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 $0.0890 between high and low, or 13.26%. For the last week, the stock has had daily average volatility of 7.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BIOR) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Biora Therapeutics, Inc. to open at $0.701, and during the day (based on 14 day Average True Range), to move between $0.613 and $0.731, which gives a possible trading interval of +/-$0.0587 (+/-8.74%) up or down from last closing price. If Biora Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 17.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.718 (6.94%) than the support at $0.620 (7.71%), 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.
Is Biora Therapeutics, Inc. stock A Buy?
Biora 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.974 Strong Sell Candidate Downgraded
Predicted Opening Price for Biora Therapeutics, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.701 ( 4.34%) | $0.672 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.790 | 17.58% |
| R2 | 0.756 | 12.52% |
| R1 | 0.735 | 9.40% |
| Price | 0.672 | |
| S1 | 0.667 | -0.724% |
| S2 | 0.646 | -3.85% |
| S3 | 0.612 | -8.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.745 | 10.90% |
| R2 | 0.735 | 9.45% |
| R1 | 0.718 | 6.94% |
| Price | 0.672 | |
| S1 | 0.620 | -7.71% |
| S2 | 0.600 | -10.76% |
| S3 | 0.594 | -11.64% |
FAQ
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