Calithera Biosciences Stock Forecast

Stronger technical forecast for Calithera Biosciences stock price after Friday trading.
(Updated on Apr 19, 2024)

CALA Signals & Forecast

The Calithera Biosciences stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0329. On a fall, the stock will find some support from the long-term average at approximately $0.0240. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should go up by 6.72% to $0.0267 within 6 trading days since signal was issued (Monday, April 22, 2024).

Support, Risk & Stop-loss for Calithera Biosciences stock

Calithera Biosciences finds support from accumulated volume at $0.0246 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 50.00%

Our recommended stop-loss: $0.0236 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (CALA) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Calithera Biosciences to open at $0.0251, and during the day (based on 14 day Average True Range), to move between $0.0186 and $0.0315, which gives a possible trading interval of +/-$0.0065 (+/-25.79%) up or down from last closing price. If Calithera Biosciences takes out the full calculated possible swing range there will be an estimated 51.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0246 (2.00%) than the resistance at $0.0300 (19.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Calithera Biosciences stock A Buy?

Calithera Biosciences holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.032 Hold/Accumulate Upgraded

Predicted Opening Price for Calithera Biosciences of Monday, April 22, 2024

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