Benitec Biopharma Limited Stock Forecast
On Monday, Benitec Biopharma Limited stock price gained an impressive 7.68%
(Updated on Apr 29, 2024)
The Benitec Biopharma Limited stock price gained 7.68% on the last trading day (Monday, 29th Apr 2024), rising from $6.90 to $7.43. During the last trading day the stock fluctuated 9.42% from a day low at $6.90 to a day high of $7.55. The price has risen in 6 of the last 10 days and is up by 51.32% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 27 thousand shares were bought and sold for approximately $197.64 thousand.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $7.02, a level that may pose a second chance to hit a runner. According to fan-theory $8.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BNTC Signals & Forecast
Mostly positive signals in the chart today. The Benitec Biopharma Limited 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 $6.94 and $5.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 55.44%. 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). Benitec Biopharma Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Benitec Biopharma Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.99 and $6.82. 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, Benitec Biopharma Limited finds support just below today's level at $6.99. If this is broken, then the next support from accumulated volume will be at $6.82 and $6.72.
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 $0.650 between high and low, or 9.42%. For the last week, the stock has had daily average volatility of 7.82%.
Our recommended stop-loss: $7.15 (-3.72%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (BNTC) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Benitec Biopharma Limited to open at $7.29, and during the day (based on 14 day Average True Range), to move between $6.87 and $7.99, which gives a possible trading interval of +/-$0.561 (+/-7.55%) up or down from last closing price. If Benitec Biopharma Limited takes out the full calculated possible swing range there will be an estimated 15.10% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.99, some $0.440 (5.92%) from the current price of $7.43, our system finds the risk reward attractive.
Is Benitec Biopharma Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising 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 Benitec Biopharma Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.875 Strong Buy Candidate Upgraded
Predicted Opening Price for Benitec Biopharma Limited of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $7.29 ( 1.84%) | $7.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNTC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.94 | 6.91 % | |
| R2 | 7.70 | 3.57 % | ||
| R1 | 7.54 | 1.50 % | ||
| Current price: | 7.43 | |||
| Support | S1 | 7.05 | -5.18 % | |
| S2 | 6.89 | -7.25 % | ||
| S3 | 6.64 | -10.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.43 | |||
| Support | S1 | 6.99 | -5.92% | |
| S2 | 6.82 | -8.21% | ||
| S3 | 6.72 | -9.56% |
BNTC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2018 | Jun 01, 2018 | Jun 08, 2018 | $0.0450 | 0.0071% |
FAQ
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