BioXcel Therapeutics Inc. Stock Forecast
BioXcel Therapeutics Inc. stock price ended at $2.10 on Monday, after gaining 1.45%.
(Updated on May 20, 2024)
The BioXcel Therapeutics Inc. stock price gained 1.45% on the last trading day (Monday, 20th May 2024), rising from $2.07 to $2.10. During the last trading day the stock fluctuated 6.55% from a day low at $1.99 to a day high of $2.12. The price has fallen in 6 of the last 10 days and is down by -16.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 84 thousand more shares were traded than the day before. In total, 973 thousand shares were bought and sold for approximately $2.04 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.01 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -26.46% during the next 3 months and, with a 90% probability hold a price between $1.48 and $1.97 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 Wednesday, May 15, 2024, and so far it has risen 1.94%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 $2.10 and $2.51. 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 $2.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 6.55%. For the last week, the stock has had daily average volatility of 7.16%.
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 Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect BioXcel Therapeutics Inc. to open at $2.07, and during the day (based on 14 day Average True Range), to move between $1.93 and $2.27, which gives a possible trading interval of +/-$0.175 (+/-8.31%) up or down from last closing price. If BioXcel Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 16.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.09 (0.48%) than the resistance at $2.12 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -2.932 Sell Candidate Unchanged
Predicted Opening Price for BioXcel Therapeutics Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $2.07 ( 1.43%) | $2.10 |
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 | 2.20 | 4.77 % | |
| R2 | 2.15 | 2.40 % | ||
| R1 | 2.12 | 0.94 % | ||
| Current price: | 2.10 | |||
| Support | S1 | 2.02 | -3.80 % | |
| S2 | 1.99 | -5.27 % | ||
| S3 | 1.94 | -7.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.35 | 11.90 % | |
| R2 | 2.31 | 9.76 % | ||
| R1 | 2.12 | 0.95 % | ||
| Current price | 2.10 | |||
| Support | S1 | 2.09 | -0.476% | |
| S2 | 2.07 | -1.43% | ||
| S3 | 2.06 | -1.90% |
FAQ
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