Compugen Ltd. Stock Forecast
Compugen Ltd. stock price up 1.05% on Friday
(Updated on Apr 26, 2024)
The Compugen Ltd. stock price gained 1.05% on the last trading day (Friday, 26th Apr 2024), rising from $1.90 to $1.92. During the last trading day the stock fluctuated 6.74% from a day low at $1.86 to a day high of $1.98. The price has fallen in 6 of the last 10 days and is down by -9.86% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 60 thousand more shares were traded than the day before. In total, 326 thousand shares were bought and sold for approximately $626.25 thousand.
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 $1.85 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.76% during the next 3 months and, with a 90% probability hold a price between $1.65 and $2.45 at the end of this 3-month period.
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CGEN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.13%. Further rise is indicated until a new top pivot has been found. Compugen Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Compugen Ltd. 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 $2.36. On a fall, the stock will find some support from the short-term average at $1.91. 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).
Support, Risk & Stop-loss for Compugen Ltd. stock
Compugen Ltd. finds support from accumulated volume at $1.90 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.125 between high and low, or 6.74%. For the last week, the stock has had daily average volatility of 6.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CGEN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Compugen Ltd. to open at $1.92, and during the day (based on 14 day Average True Range), to move between $1.78 and $2.06, which gives a possible trading interval of +/-$0.141 (+/-7.34%) up or down from last closing price. If Compugen Ltd. takes out the full calculated possible swing range there will be an estimated 14.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.90 (1.04%) than the resistance at $1.96 (2.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Compugen Ltd. stock A Buy?
Compugen Ltd. 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.
Current score: -2.813 Sell Candidate Unchanged
Predicted Opening Price for Compugen Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $1.92 ( 0.0868%) | $1.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.04 | 6.42 % | |
| R2 | 2.00 | 3.94 % | ||
| R1 | 1.97 | 2.40 % | ||
| Current price: | 1.92 | |||
| Support | S1 | 1.87 | -2.57 % | |
| S2 | 1.84 | -4.11 % | ||
| S3 | 1.79 | -6.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.32 | 20.83 % | |
| R2 | 2.27 | 18.23 % | ||
| R1 | 1.96 | 2.08 % | ||
| Current price | 1.92 | |||
| Support | S1 | 1.90 | -1.04% | |
| S2 | 1.89 | -1.56% | ||
| S3 | 1.88 | -2.08% |
FAQ
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