CareDx Stock Forecast

Weaker technical forecast for CareDx as stock downgraded to Buy Candidate.
(Updated on Sep 13, 2024)

CDNA Signals & Forecast

The CareDx 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 $28.15 and $27.61. 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 Monday, August 19, 2024, and so far it has fallen -15.06%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for CareDx stock

On the downside, the stock finds support just below today's level from accumulated volume at $25.01 and $23.69. 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, CareDx finds support just below today's level at $25.01. If this is broken, then the next support from accumulated volume will be at $23.69 and $23.58.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.80 between high and low, or 6.28%. For the last week, the stock has had daily average volatility of 5.03%.

Our recommended stop-loss: $27.06 (-6.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 61 days ago.)

Trading Expectations (CDNA) For The Upcoming Trading Day Of Monday 16th

For the upcoming trading day on Monday, 16th we expect CareDx to open at $29.34, and during the day (based on 14 day Average True Range), to move between $27.17 and $30.57, which gives a possible trading interval of +/-$1.70 (+/-5.90%) up or down from last closing price. If CareDx takes out the full calculated possible swing range there will be an estimated 11.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $30.73 (6.44%) than the support at $25.01 (13.37%), 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 CareDx 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 CareDx stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

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Current score: 2.928 Buy Candidate Downgraded

Predicted Opening Price for CareDx of Monday, September 16, 2024

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