Cidara Therapeutics Stock Forecast
Cidara Therapeutics stock price ended at $11.81 on Wednesday, after losing 1.42%.
(Updated on May 01, 2024)
The Cidara Therapeutics stock price fell by -1.42% on the last day (Wednesday, 1st May 2024) from $11.98 to $11.81. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 7.66% from a day low at $11.02 to a day high of $11.86. The price has fallen in 8 of the last 10 days but is still up by 1535.28% over the past 2 weeks. Volume has increased on the last day by 34 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, 108 thousand shares were bought and sold for approximately $1.27 million.
The stock lies in the upper part of a very wide and strong rising 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 $13.40 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 83.83% during the next 3 months and, with a 90% probability hold a price between $2.05 and $24.63 at the end of this 3-month period.
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CDTX Signals & Forecast
The Cidara Therapeutics 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 $10.65 and $2.79. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, April 25, 2024, and so far it has fallen -9.15%. Further fall is indicated until a new bottom pivot has been found. Cidara Therapeutics gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Cidara Therapeutics 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.84 between high and low, or 7.66%. For the last week, the stock has had daily average volatility of 12.50%.
The Cidara Therapeutics stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $11.31 (-4.22%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 89 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CDTX) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Cidara Therapeutics to open at $11.56, and during the day (based on 14 day Average True Range), to move between $10.70 and $12.92, which gives a possible trading interval of +/-$1.11 (+/-9.37%) up or down from last closing price. If Cidara Therapeutics takes out the full calculated possible swing range there will be an estimated 18.73% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $12.33, some $0.515 (4.36%) from the current price of $11.81, our system finds the risk reward not very attractive.
Earnings coming up
Cidara Therapeutics will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.50. We will update the financials statements for Cidara Therapeutics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.56% in the first trading day after earnings release.
Is Cidara Therapeutics 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 Cidara Therapeutics stock to perform well in the short-term.
Current score: 3.029 Buy Candidate Unchanged
Predicted Opening Price for Cidara Therapeutics of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $11.56 ( 2.10%) | $11.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.41 | 5.05 % | |
| R2 | 12.08 | 2.32 % | ||
| R1 | 11.88 | 0.630 % | ||
| Current price: | 11.81 | |||
| Support | S1 | 11.24 | -4.83 % | |
| S2 | 11.04 | -6.52 % | ||
| S3 | 10.72 | -9.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.00 | 10.08 % | |
| R2 | 12.63 | 6.94 % | ||
| R1 | 12.33 | 4.36 % | ||
| Current price | 11.81 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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