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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CDXS
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Codexis stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 22, 2024)

Sell candidate since Apr 22, 2024 PDF

The Codexis stock price gained 1.06% on the last trading day (Monday, 22nd Apr 2024), rising from $2.83 to $2.86. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.32% from a day low at $2.78 to a day high of $2.90. The price has risen in 6 of the last 10 days but is still down by -10.9% for this period. Volume fell on the last day by -179 thousand shares and in total, 198 thousand shares were bought and sold for approximately $566.71 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 part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.71 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.34% during the next 3 months and, with a 90% probability hold a price between $2.89 and $5.12 at the end of this 3-month period.

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CDXS Signals & Forecast

There are mixed signals in the stock today. The Codexis 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 $3.30. On a fall, the stock will find some support from the short-term average at $2.79. 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). 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. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.32%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Codexis stock

Codexis finds support from accumulated volume at $2.85 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 $0.120 between high and low, or 4.32%. For the last week the stock has had daily average volatility of 5.75%.

Codexis is oversold on RSI14 (24). 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 a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CDXS) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Codexis to open at $2.85, and during the day (based on 14 day Average True Range), to move between $2.65 and $3.07, which gives a possible trading interval of +/-$0.207 (+/-7.23%) up or down from last closing price. If Codexis takes out the full calculated possible swing range there will be an estimated 14.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.85 (0.35%) than the resistance at $2.87 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Codexis stock A Buy?

Codexis holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.701 Sell Candidate Downgraded

Predicted Opening Price for Codexis of Tuesday, April 23, 2024

Fair opening price April 23, 2024 Current price
$2.85 ( 0.466%) $2.86

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

Trading levels for CDXS

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.97 3.73 %
R2 2.92 2.13 %
R1 2.89 1.14 %
Current price: 2.86
Support S1 2.80 -2.07 %
S2 2.77 -3.06 %
S3 2.73 -4.66 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 3.49 22.03 %
R2 3.47 21.33 %
R1 2.87 0.350 %
Current price 2.86
Support S1 2.85 -0.350%
S2 2.78 -2.80%
S3 2.76 -3.50%

FAQ

What is the symbol for Codexis Stock and on which exchange is it traded?
The symbol for Codexis is CDXS and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Codexis Stock?
Codexis holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Codexis Stock?
Codexis Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Codexis Stock.

What's the current price of Codexis Stock?
As of the end of day on the Apr 22, 2024, the price of an Codexis (CDXS) share was $2.86.

What is the 52-week high and low for Codexis Stock?
The 52-week high for Codexis Stock is $4.90 and the 52-week low is $1.45.

What is the market capitalization of Codexis Stock?
As of the Apr 22, 2024, the market capitalization of Codexis is 201.068M.

When is the next earnings date for Codexis?
The upcoming earnings date for Codexis is May 02, 2024.
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About Codexis

Codexis Codexis, Inc. discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver protein engineering technology platform, whi... CDXS Profile

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