Bio-Path Holdings stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Oct 15, 2021)
Hold candidate since 2021-10-15 PDF
The Bio-Path Holdings stock price gained 0.98% on the last trading day (Friday, 15th Oct 2021), rising from $5.12 to $5.17. During the day the stock fluctuated 1.96% from a day low at $5.10 to a day high of $5.20. The price has fallen in 6 of the last 10 days, but is still up by 0.19% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 28 thousand shares were bought and sold for approximately $145.86 thousand. 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 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 -24.45% during the next 3 months and, with a 90% probability hold a price between $3.59 and $4.16 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.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, October 04, 2021, and so far it has risen 3.40%. 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. The Bio-Path Holdings stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $5.32. On a fall, the stock will find some support from the short-term average at $5.09. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 also not.
Support, Risk & Stop-loss
Bio-Path Holdings finds support from accumulated volume at $5.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.10 between high and low, or 1.96%. For the last week the stock has had a daily average volatility of 2.80%.
Our recommended stop-loss: $4.92 (-4.87%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Is Bio-Path Holdings stock A Buy?
Bio-Path Holdings holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.205
Predicted Opening Price for Bio-Path Holdings of Monday, October 18, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price October 18, 2021||Current price|
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HC Wainwright is very positive about BPTH and gave it a "Buy" rating on Apr 13, 2021. The price target was set to $12.00.
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