Candel Therapeutics, Inc. Stock Forecast
Weaker technical forecast for Candel Therapeutics, Inc. as stock downgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Candel Therapeutics, Inc. stock price fell by -0.622% on the last day (Friday, 26th Apr 2024) from $6.43 to $6.39. During the last trading day the stock fluctuated 9.63% from a day low at $6.02 to a day high of $6.60. The price has risen in 6 of the last 10 days but is still down by -4.05% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -354 thousand shares and in total, 386 thousand shares were bought and sold for approximately $2.47 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 177.02% during the next 3 months and, with a 90% probability hold a price between $8.64 and $22.75 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CADL Signals & Forecast
The Candel Therapeutics, Inc. 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 $5.85 and $3.71. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -12.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Candel Therapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.82 and $5.10. 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, Candel Therapeutics, Inc. finds support just below today's level at $5.82. If this is broken, then the next support from accumulated volume will be at $5.10 and $5.09.
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 $0.580 between high and low, or 9.63%. For the last week, the stock has had daily average volatility of 12.02%.
Our recommended stop-loss: $6.01 (-6.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (CADL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Candel Therapeutics, Inc. to open at $6.34, and during the day (based on 14 day Average True Range), to move between $5.49 and $7.29, which gives a possible trading interval of +/-$0.90 (+/-14.05%) up or down from last closing price. If Candel Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 28.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.40 (0.16%) than the support at $5.82 (8.92%), 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 Candel Therapeutics, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Candel Therapeutics, Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.988 Buy Candidate Downgraded
Predicted Opening Price for Candel Therapeutics, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $6.34 ( 0.83%) | $6.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CADL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.92 | 8.24 % | |
| R2 | 6.70 | 4.77 % | ||
| R1 | 6.56 | 2.63 % | ||
| Current price: | 6.39 | |||
| Support | S1 | 6.12 | -4.30 % | |
| S2 | 5.98 | -6.44 % | ||
| S3 | 5.76 | -9.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.28 | 13.93 % | |
| R2 | 6.64 | 3.91 % | ||
| R1 | 6.40 | 0.156 % | ||
| Current price | 6.39 | |||
| Support | S1 | 5.82 | -8.92% | |
| S2 | 5.10 | -20.19% | ||
| S3 | 5.09 | -20.34% |
FAQ
Click here for our free guide on how to buy Candel Therapeutics, Inc. Stock.
