CareDx Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Is CareDx stock still a buy after falling -5.26% on Thursday?
(Updated on Apr 25, 2024)
The CareDx stock price fell by -5.26% on the last day (Thursday, 25th Apr 2024) from $7.98 to $7.56. During the last trading day the stock fluctuated 3.59% from a day low at $7.53 to a day high of $7.80. The price has fallen in 7 of the last 10 days and is down by -17.29% for this period. Volume has increased on the last day by 12 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, 530 thousand shares were bought and sold for approximately $4.01 million.
Given the current horizontal trend, you can expect CareDx stock with a 90% probability to be traded between $7.47 and $11.84 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CDNA Signals & Forecast
There are few to no technical positive signals at the moment. The CareDx 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 $8.09 and $9.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -37.42%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for CareDx stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.270 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 5.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDNA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect CareDx to open at $7.63, and during the day (based on 14 day Average True Range), to move between $7.01 and $8.11, which gives a possible trading interval of +/-$0.548 (+/-7.25%) up or down from last closing price. If CareDx takes out the full calculated possible swing range there will be an estimated 14.50% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $8.28, some $0.720 (9.52%) from the current price of $7.56, our system finds the risk reward not very attractive.
Is CareDx stock A Buy?
CareDx 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.485 Sell Candidate Upgraded
Predicted Opening Price for CareDx of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $7.63 ( 0.93%) | $7.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.90 | 4.50 % | |
| R2 | 7.80 | 3.13 % | ||
| R1 | 7.73 | 2.29 % | ||
| Current price: | 7.56 | |||
| Support | S1 | 7.53 | -0.438 % | |
| S2 | 7.46 | -1.28 % | ||
| S3 | 7.36 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.02 | 19.31 % | |
| R2 | 8.56 | 13.23 % | ||
| R1 | 8.28 | 9.52 % | ||
| Current price | 7.56 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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