Cerevel Therapeutics Holdings, Inc. Stock Forecast
Cerevel Therapeutics Holdings, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)
The Cerevel Therapeutics Holdings, Inc. stock price gained 1.30% on the last trading day (Thursday, 18th Apr 2024), rising from $41.60 to $42.14. During the last trading day the stock fluctuated 1.22% from a day low at $41.70 to a day high of $42.21. The price has fallen in 6 of the last 10 days and is down by -0.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 416 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $52.17 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Cerevel Therapeutics Holdings, Inc. stock with a 90% probability to be traded between $40.95 and $42.62 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CERE Signals & Forecast
The Cerevel Therapeutics Holdings, Inc. 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 $41.82 and $41.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.01%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cerevel Therapeutics Holdings, Inc. stock
Cerevel Therapeutics Holdings, Inc. finds support from accumulated volume at $42.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.510 between high and low, or 1.22%. For the last week the stock has had daily average volatility of 1.23%.
Our recommended stop-loss: $39.89 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CERE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cerevel Therapeutics Holdings, Inc. to open at $42.02, and during the day (based on 14 day Average True Range), to move between $41.78 and $42.50, which gives a possible trading interval of +/-$0.364 (+/-0.86%) up or down from last closing price. If Cerevel Therapeutics Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.01 (0.31%) than the resistance at $42.33 (0.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cerevel Therapeutics Holdings, Inc. stock A Buy?
Cerevel Therapeutics Holdings, Inc. 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: 0.334 Hold/Accumulate Upgraded
Predicted Opening Price for Cerevel Therapeutics Holdings, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $42.02 ( 0.293%) | $42.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CERE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.53 | 0.92 % | |
| R2 | 42.33 | 0.455 % | ||
| R1 | 42.21 | 0.170 % | ||
| Current price: | 42.14 | |||
| Support | S1 | 41.82 | -0.755 % | |
| S2 | 41.70 | -1.04 % | ||
| S3 | 41.51 | -1.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.93 | 1.87 % | |
| R2 | 42.88 | 1.76 % | ||
| R1 | 42.33 | 0.451 % | ||
| Current price | 42.14 | |||
| Support | S1 | 42.01 | -0.308% | |
| S2 | 41.85 | -0.688% | ||
| S3 | 41.04 | -2.61% |
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