CareDx Stock Forecast

Volatile ride for CareDx stock price on Wednesday moving between $8.43 and $9.96
(Updated on May 01, 2024)

CDNA Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 21.43%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CareDx stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.19. On a fall, the stock will find some support from the short-term average at $8.07. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for CareDx stock

On the downside, the stock finds support just below today's level from accumulated volume at $8.28 and $8.23. 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 $8.28. If this is broken, then the next support from accumulated volume will be at $8.23 and $8.20.

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 $1.53 between high and low, or 18.15%. For the last week, the stock has had daily average volatility of 9.13%.

Our recommended stop-loss: $8.81 (-4.00%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (CDNA) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect CareDx to open at $9.19, and during the day (based on 14 day Average True Range), to move between $8.50 and $9.86, which gives a possible trading interval of +/-$0.678 (+/-7.38%) up or down from last closing price. If CareDx takes out the full calculated possible swing range there will be an estimated 14.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $9.72 (5.88%) than the support at $8.28 (9.80%), 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?

CareDx 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.899 Hold/Accumulate Upgraded

Predicted Opening Price for CareDx of Thursday, May 2, 2024

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