Candel Therapeutics, Inc. Stock Forecast

Volatile ride for Candel Therapeutics, Inc. stock price on Tuesday moving between $8.66 and $9.63
(Updated on May 07, 2024)

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 $8.19 and $5.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 85.49%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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 $8.85 and $8.43. 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 $8.85. If this is broken, then the next support from accumulated volume will be at $8.43 and $7.28.

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 $0.97 between high and low, or 11.20%. For the last week, the stock has had daily average volatility of 17.11%.

The Candel Therapeutics, Inc. stock is extremely overbought on RSI14 (90). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $9.33 (-2.70%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (CADL) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Candel Therapeutics, Inc. to open at $9.29, and during the day (based on 14 day Average True Range), to move between $8.56 and $10.62, which gives a possible trading interval of +/-$1.03 (+/-10.77%) up or down from last closing price. If Candel Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 21.55% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $8.85, some $0.740 (7.72%) from the current price of $9.59, our system finds the risk reward attractive.

Is Candel Therapeutics, Inc. stock A Buy?

Candel Therapeutics, Inc. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.281 Strong Buy Candidate Upgraded

Predicted Opening Price for Candel Therapeutics, Inc. of Wednesday, May 8, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.