Avid Bioservices Inc. Stock Forecast
Red day on Friday for Avid Bioservices Inc.
(Updated on Apr 19, 2024)
The Avid Bioservices Inc. stock price fell by -1.99% on the last day (Friday, 19th Apr 2024) from $6.52 to $6.39. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.78% from a day low at $6.23 to a day high of $6.59. The price has fallen in 5 of the last 10 days but is still up by 0.79% over the past 2 weeks. Volume has increased on the last day by 82 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 771 thousand shares were bought and sold for approximately $4.93 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.96 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.49% during the next 3 months and, with a 90% probability hold a price between $5.76 and $8.33 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CDMO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 4.93%. 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. The Avid Bioservices Inc. 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 $6.76 and $6.84. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Avid Bioservices Inc. stock
Avid Bioservices Inc. finds support from accumulated volume at $6.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.360 between high and low, or 5.78%. For the last week, the stock has had daily average volatility of 7.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDMO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Avid Bioservices Inc. to open at $6.40, and during the day (based on 14 day Average True Range), to move between $5.90 and $6.88, which gives a possible trading interval of +/-$0.486 (+/-7.60%) up or down from last closing price. If Avid Bioservices Inc. takes out the full calculated possible swing range there will be an estimated 15.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.29 (1.56%) than the resistance at $6.59 (3.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avid Bioservices Inc. stock A Buy?
Avid Bioservices Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.337 Sell Candidate Unchanged
Predicted Opening Price for Avid Bioservices Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $6.40 ( 0.209%) | $6.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.76 | 5.84 % | |
| R2 | 6.63 | 3.69 % | ||
| R1 | 6.54 | 2.36 % | ||
| Current price: | 6.39 | |||
| Support | S1 | 6.27 | -1.94 % | |
| S2 | 6.18 | -3.27 % | ||
| S3 | 6.04 | -5.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.71 | 5.01 % | |
| R2 | 6.60 | 3.29 % | ||
| R1 | 6.59 | 3.13 % | ||
| Current price | 6.39 | |||
| Support | S1 | 6.29 | -1.56% | |
| S2 | 6.25 | -2.19% | ||
| S3 | 6.10 | -4.54% |
CDMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2018 | Mar 16, 2018 | Apr 02, 2018 | $0.656 | 19.76% |
FAQ
Click here for our free guide on how to buy Avid Bioservices Inc. Stock.
