Cymabay Therapeutics Inc Stock Forecast
Cymabay Therapeutics Inc stock price ended at $32.48 on Thursday, after losing 0%.
(Updated on Mar 28, 2024)
No changes to the price of Cymabay Therapeutics Inc stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 0% from a day low at $32.48 to a day high of $32.48. The price has been going up and down for this period, and there has been a 0.03% gain for the last 2 weeks.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $31.76 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 53.71% during the next 3 months and, with a 90% probability hold a price between $48.82 and $56.74 at the end of this 3-month period.
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CBAY Signals & Forecast
The Cymabay 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 $32.48 and $31.93. 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 Wednesday, March 27, 2024, and so far it has fallen 0%. 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 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.
Support, Risk & Stop-loss for Cymabay Therapeutics Inc stock
Cymabay Therapeutics Inc finds support from accumulated volume at $32.21 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 0%
The Cymabay Therapeutics Inc stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.
Our recommended stop-loss: $31.42 (-3.26%) (This stock has low daily movements and this gives low risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CBAY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cymabay Therapeutics Inc to open at $32.48, and during the day (based on 14 day Average True Range), to move between $32.31 and $32.65, which gives a possible trading interval of +/-$0.175 (+/-0.54%) up or down from last closing price. If Cymabay Therapeutics Inc takes out the full calculated possible swing range there will be an estimated 1.08% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $32.21, some $0.270 (0.83%) from the current price of $32.48, our system finds the risk reward attractive.
Is Cymabay Therapeutics Inc stock A Buy?
Cymabay Therapeutics Inc 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cymabay Therapeutics Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$32.48 ( 0%) | $32.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBAY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.48 | . | |
R2 | 32.48 | . | ||
R1 | 32.48 | . | ||
Current price: | 32.48 | |||
Support | S1 | 32.48 | . | |
S2 | 32.48 | . | ||
S3 | 32.48 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 32.48 | |||
Support | S1 | 32.21 | -0.83% | |
S2 | 32.18 | -0.92% | ||
S3 | 32.12 | -1.11% |
FAQ
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