Evaluation of Compugen Ltd. stock downgraded after the last trading session.
(Updated on Nov 29, 2021)
Sell candidate since 2021-11-12 Loss -23.85% PDF
The Compugen Ltd. stock price fell by -1.54% on the last day (Monday, 29th Nov 2021) from $4.54 to $4.47. and has now fallen 3 days in a row. During the day the stock fluctuated 6.76% from a day low at $4.44 to a day high of $4.74. The price has fallen in 8 of the last 10 days and is down by -23.85% for this period. Volume has increased on the last day by 462 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, 1 million shares were bought and sold for approximately $5.00 million.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($4.92) are considered to be a "second chance" to get out. According to the fan-theory $2.93 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Signals & Forecast
There are few to no technical positive signals at the moment. The Compugen Ltd. 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 $4.61 and $5.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, November 11, 2021, and so far it has fallen -37.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
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 $0.30 between high and low, or 6.76%. For the last week, the stock has had a daily average volatility of 5.65%.
Compugen Ltd. is oversold on RSI14 (23). 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 Compugen Ltd. stock A Buy?
Compugen Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.192
Predicted Opening Price for Compugen Ltd. of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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On Nov 15, 2021 "JMP Securities" gave "$18.00" rating for CGEN. The price target was changed from $5.53 to 5.8%.
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