CASI Pharmaceuticals Stock Forecast

CASI Signals & Forecast

The CASI Pharmaceuticals 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 $5.41 and $4.25. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, November 24, 2023, and so far it has fallen -4.44%. Further fall is indicated until a new bottom pivot has been found. 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".

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Support, Risk & Stop-loss for CASI Pharmaceuticals stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.20 and $4.86. 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, CASI Pharmaceuticals finds support just below today's level at $5.20. If this is broken, then the next support from accumulated volume will be at $4.86 and $4.72.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.300 between high and low, or 5.57%. For the last week the stock has had daily average volatility of 10.16%.

Our recommended stop-loss: $5.31 (-4.99%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (CASI) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect CASI Pharmaceuticals to open at $5.55, and during the day (based on 14 day Average True Range), to move between $5.10 and $6.08, which gives a possible trading interval of +/-$0.486 (+/-8.70%) up or down from last closing price. If CASI Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 17.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.60 (0.18%) than the support at $5.20 (6.98%), 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 CASI Pharmaceuticals 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 CASI Pharmaceuticals stock to perform well in the short-term.

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