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Cidara Therapeutics Stock Forecast NASDAQ:CDTX

$1.63 (9.40%)

Volume: 664k

Closed: Dec 07, 2021

Hollow Logo Score: 3.224

Cidara Therapeutics Stock Forecast

$1.63 (9.40%)

Volume: 664k

Closed: Dec 07, 2021

Score Hollow Logo 3.224
Which way will CDTX go? Request
Tue, Dec 07, 2021 Buy Candidate Upgraded
Stop-loss: $1.56 (-4.06%)
Key Stats
Beta 0.81
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 47 and the stock is currently not being overbought or oversold

A very strong day for Cidara Therapeutics stock price on Tuesday
(Updated on Dec 07, 2021)


Buy candidate since 2021-12-07

The Cidara Therapeutics stock price gained 9.40% on the last trading day (Tuesday, 7th Dec 2021), rising from $1.49 to $1.63. During the day the stock fluctuated 8.25% from a day low at $1.52 to a day high of $1.64. The price has fallen in 6 of the last 10 days, but is still up by 16.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 thousand more shares were traded than the day before. In total, 664 thousand shares were bought and sold for approximately $1.08 million.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.69 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -32.99% during the next 3 months and, with a 90% probability hold a price between $0.85 and $1.13 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

The Cidara Therapeutics stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.50 and $1.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 22, 2021, and so far it has risen 16.43%. Further rise is indicated until a new top pivot has been found. Cidara Therapeutics has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

Cidara Therapeutics finds support from accumulated volume at $1.60 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 $0.13 between high and low, or 8.25%. For the last week, the stock has had a daily average volatility of 8.89%.

Our recommended stop-loss: $1.56 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Is Cidara Therapeutics stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.224

Predicted Opening Price for Cidara Therapeutics of Wednesday, December 8, 2021

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

Fair opening price December 8, 2021 Current price
$1.60 $1.63 (Overvalued)
Buy Candidate Upgraded

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Analyst Ratings

On Dec 03, 2021 "HC Wainwright" gave "$6.00" rating for CDTX. The price target was set to $1.53+5.5%.

Volatility and Risk
Daily Average Volatility: 8.89 %
Overall Risk: Very High High Medium Low Very Low
Volatility
8.89 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $1.65
Price: $1.63
Support: $1.60

CDTX Insider Trading Show all Trades

INSIDER POWER

22.994

Last 100 transactions
Buy: 4 217 620 | Sell: 183 419 (Shares)
Date Action Amount Person Type
Nov 12, 2021 Buy 50 000 Stein Jeffrey Common Stock
Nov 12, 2021 Buy 20 000 Shah Preetam Common Stock
Sep 30, 2021 Buy 20 750 Johnson Brady Common Stock
Sep 30, 2021 Buy 132 000 Daruwala Paul Common Stock
Sep 30, 2021 Buy 148 000 Tari Leslie Common Stock
Show all Insider Trades
INSIDER POWER

22.994

Last 100 transactions
Buy: 4 217 620 | Sell: 183 419 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 1.72 5.52 %
1.67 2.59 %
1.64 0.78 %
Current price: 1.63
Support 1.55 -5.08 %
1.52 -6.89 %
1.47 -9.82 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 1.71 4.91 %
1.68 3.07 %
1.65 1.23 %
Current price 1.63
Support 1.60 -1.84%
1.53 -6.13%
1.49 -8.59%

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About Cidara Therapeutics

Cidara Therapeutics Cidara Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel anti-infectives for the treatment of various diseases. Its lead product candidate is CD101 IV, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of systemic Candida infections. The company also develops CD101 topical, a topical formulation of CD101 for the treatment of recurrent vul... Read more

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