Bellerophon Therapeutics Stock Forecast
Big movements in Bellerophon Therapeutics stock price on Thursday moving 19.73% between high and low
(Updated on May 02, 2024)
The Bellerophon Therapeutics stock price gained 21.83% on the last trading day (Thursday, 2nd May 2024), rising from $0.0513 to $0.0625. During the last trading day the stock fluctuated 19.73% from a day low at $0.0522 to a day high of $0.0625. The price has fallen in 5 of the last 10 days but is still up by 9.46% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 11 thousand shares were bought and sold for approximately $663.88 . 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $0.0597 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $0.0698 sometime during the next 3 months.
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BLPH Signals & Forecast
The Bellerophon Therapeutics 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 $0.0555 and $0.0555. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 25.00%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, March 15, 2024 with a target of $0.0520. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Bellerophon Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0550 and $0.0533. 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, Bellerophon Therapeutics finds support just below today's level at $0.0550. If this is broken, then the next support from accumulated volume will be at $0.0533 and $0.0510.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0103 between high and low, or 19.73%. For the last week the stock has had daily average volatility of 10.23%.
Our recommended stop-loss: $0.0604 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (BLPH) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bellerophon Therapeutics to open at $0.0591, and during the day (based on 14 day Average True Range), to move between $0.0573 and $0.0677, which gives a possible trading interval of +/-$0.0052 (+/-8.40%) up or down from last closing price. If Bellerophon Therapeutics takes out the full calculated possible swing range there will be an estimated 16.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0640 (2.40%) than the support at $0.0550 (12.00%), 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 Bellerophon Therapeutics stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Bellerophon Therapeutics stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.784 Buy Candidate Upgraded
Predicted Opening Price for Bellerophon Therapeutics of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0591 ( 5.49%) | $0.0625 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0694 | 10.99 % | |
| R2 | 0.0654 | 4.69 % | ||
| R1 | 0.0630 | 0.80 % | ||
| Current price: | 0.0625 | |||
| Support | S1 | 0.0551 | -11.79 % | |
| S2 | 0.0527 | -15.68 % | ||
| S3 | 0.0488 | -21.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0650 | 4.00 % | ||
| R1 | 0.0640 | 2.40 % | ||
| Current price | 0.0625 | |||
| Support | S1 | 0.0550 | -12.00% | |
| S2 | 0.0533 | -14.80% | ||
| S3 | 0.0510 | -18.40% |
FAQ
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