BioRestorative Therapies, Inc. Stock Forecast
Is BioRestorative Therapies, Inc. stock still a buy after falling -5.80% on Friday?
(Updated on May 17, 2024)
The BioRestorative Therapies, Inc. stock price fell by -5.80% on the last day (Friday, 17th May 2024) from $1.38 to $1.30. During the last trading day the stock fluctuated 7.94% from a day low at $1.26 to a day high of $1.36. The price has been going up and down for this period, and there has been a -4.76% loss for the last 2 weeks. Volume has increased on the last day by 11 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, 74 thousand shares were bought and sold for approximately $96.61 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BioRestorative Therapies, Inc. stock with a 90% probability to be traded between $1.24 and $1.52 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BRTX 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 BioRestorative Therapies, 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 $1.36 and $1.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -12.16%. Further fall is indicated until a new bottom pivot has been found. BioRestorative Therapies, 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". 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 Tuesday, March 05, 2024 and based on theory for this formation the price should go up by 25.54% to $1.63 within 5 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for BioRestorative Therapies, Inc. stock
BioRestorative Therapies, Inc. finds support from accumulated volume at $1.28 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.100 between high and low, or 7.94%. For the last week, the stock has had daily average volatility of 6.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRTX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BioRestorative Therapies, Inc. to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.19 and $1.41, which gives a possible trading interval of +/-$0.115 (+/-8.81%) up or down from last closing price. If BioRestorative Therapies, Inc. takes out the full calculated possible swing range there will be an estimated 17.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.31 (0.77%) than the support at $1.28 (1.54%), 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 BioRestorative Therapies, Inc. stock A Buy?
BioRestorative Therapies, Inc. holds several negative signals and is within a 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 Buy to a Sell candidate.
Current score: -2.108 Sell Candidate Downgraded
Predicted Opening Price for BioRestorative Therapies, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $1.31 ( 0.513%) | $1.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.41 | 8.21 % | |
| R2 | 1.37 | 5.27 % | ||
| R1 | 1.34 | 3.45 % | ||
| Current price: | 1.30 | |||
| Support | S1 | 1.27 | -2.43 % | |
| S2 | 1.24 | -4.24 % | ||
| S3 | 1.21 | -7.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.42 | 9.23 % | |
| R2 | 1.37 | 5.38 % | ||
| R1 | 1.31 | 0.769 % | ||
| Current price | 1.30 | |||
| Support | S1 | 1.28 | -1.54% | |
| S2 | 1.27 | -2.31% | ||
| S3 | 1.23 | -5.38% |
FAQ
Click here for our free guide on how to buy BioRestorative Therapies, Inc. Stock.
