High volatility in Cleveland BioLabs stock price on Friday which ended trading at $2.30
(Updated on Dec 03, 2021)
Sell candidate since 2021-11-29 Loss -27.22% PDF
The Cleveland BioLabs stock price fell by -8.00% on the last day (Friday, 3rd Dec 2021) from $2.50 to $2.30. and has now fallen 7 days in a row. During the day the stock fluctuated 10.62% from a day low at $2.26 to a day high of $2.50. The price has fallen in 7 of the last 10 days and is down by -29.23% 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 -109 thousand shares and in total, 205 thousand shares were bought and sold for approximately $470.58 thousand.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $2.43. A reaction back to this level may hold a second chance to get out before further falls.
Signals & Forecast
There are few to no technical positive signals at the moment. The Cleveland BioLabs stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.92 and $3.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 12, 2021, and so far it has fallen -43.63%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss
Cleveland BioLabs finds support from accumulated volume at $2.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.24 between high and low, or 10.62%. For the last week the stock has had a daily average volatility of 14.15%.
Cleveland BioLabs is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Cleveland BioLabs stock A Buy?
The Cleveland BioLabs stock holds several negative signals and despite the positive trend, we believe Cleveland BioLabs will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.781
Predicted Opening Price for Cleveland BioLabs of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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