BioXcel Therapeutics Inc. Stock Forecast
Green day on Thursday for BioXcel Therapeutics Inc. stock after gaining 0.787%
(Updated on May 02, 2024)
The BioXcel Therapeutics Inc. stock price gained 0.787% on the last trading day (Thursday, 2nd May 2024), rising from $2.54 to $2.56. During the last trading day the stock fluctuated 3.20% from a day low at $2.50 to a day high of $2.58. The price has risen in 6 of the last 10 days and is up by 0.39% 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, 40 thousand more shares were traded than the day before. In total, 203 thousand shares were bought and sold for approximately $520.65 thousand.
The stock lies in the middle of a very 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 -20.43% during the next 3 months and, with a 90% probability hold a price between $1.00 and $2.34 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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BTAI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.59%. Further rise is indicated until a new top pivot has been found. BioXcel Therapeutics Inc. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BioXcel Therapeutics Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.59 and $2.72. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BioXcel Therapeutics Inc. stock
BioXcel Therapeutics Inc. finds support from accumulated volume at $2.46 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 $0.0800 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 4.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTAI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect BioXcel Therapeutics Inc. to open at $2.55, and during the day (based on 14 day Average True Range), to move between $2.38 and $2.74, which gives a possible trading interval of +/-$0.181 (+/-7.09%) up or down from last closing price. If BioXcel Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 14.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.46 (3.91%) than the resistance at $2.90 (13.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
BioXcel Therapeutics Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.680. We will update the financials statements for BioXcel Therapeutics Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 16.91% in the first trading day after earnings release.
Is BioXcel Therapeutics Inc. stock A Buy?
BioXcel 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.
Current score: -3.693 Sell Candidate Unchanged
Predicted Opening Price for BioXcel Therapeutics Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $2.55 ( 0.521%) | $2.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTAI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.63 | 2.60 % | |
| R2 | 2.60 | 1.41 % | ||
| R1 | 2.58 | 0.673 % | ||
| Current price: | 2.56 | |||
| Support | S1 | 2.52 | -1.71 % | |
| S2 | 2.50 | -2.45 % | ||
| S3 | 2.47 | -3.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.15 | 23.05 % | |
| R2 | 3.10 | 21.09 % | ||
| R1 | 2.90 | 13.28 % | ||
| Current price | 2.56 | |||
| Support | S1 | 2.46 | -3.91% | |
| S2 | 2.11 | -17.58% | ||
| S3 | 1.95 | -23.83% |
FAQ
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