Stronger technical forecast for Cidara Therapeutics stock price after Friday trading. (Updated on July 30, 2021)
Sell candidate since 2021-07-01 Loss -23.62% PDF
The Cidara Therapeutics stock price gained 2.70% on the last trading day (Friday, 30th Jul 2021), rising from $1.48 to $1.52. During the day the stock fluctuated 4.67% from a day low at $1.50 to a day high of $1.57. The price has fallen in 6 of the last 10 days and is down by -4.4% for this period. Volume fell on the last day by -28 thousand shares and in total, 335 thousand shares were bought and sold for approximately $508.65 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $1.47 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -21.22% during the next 3 months and, with a 90% probability hold a price between $1.16 and $1.50 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
A buy signal was issued from a pivot bottom point on Thursday, July 29, 2021, and so far it has risen 2.70%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cidara Therapeutics 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 $1.52 and $1.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss
Cidara Therapeutics finds support from accumulated volume at $1.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 4.67%. For the last week the stock has had a daily average volatility of 4.41%.
Cidara Therapeutics is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Cidara Therapeutics stock A Buy?
Cidara Therapeutics 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: -2.192
Predicted Opening Price for Cidara Therapeutics of Monday, August 2, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 2, 2021||Current price|
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Aegis is very positive about CDTX and gave it a "Buy" rating on March 10, 2021. The price target was set to $9.00.
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