Is Check-Cap Ltd. stock still a buy after falling -6.01% on Friday ?
(Updated on Dec 03, 2021)
Sell candidate since 2021-11-17 Loss -17.38% PDF
The Check-Cap Ltd. stock price fell by -6.01% on the last day (Friday, 3rd Dec 2021) from $0.77 to $0.73. and has now fallen 4 days in a row. During the day the stock fluctuated 9.58% from a day low at $0.72 to a day high of $0.79. The price has fallen in 7 of the last 10 days and is down by -16.6% for this period. Volume has increased on the last day by 142 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 $747.21 thousand.
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 ($0.73) are considered to be a "second chance" to get out. According to the fan-theory $0.41 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 Check-Cap 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 $0.81 and $0.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 26, 2021, and so far it has fallen -14.51%. 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). Check-Cap Ltd. 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
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 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 $0.0689 between high and low, or 9.58%. For the last week, the stock has had a daily average volatility of 9.00%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Check-Cap Ltd. stock A Buy?
Check-Cap 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.968
Predicted Opening Price for Check-Cap Ltd. of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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On Oct 19, 2021 "HC Wainwright" gave "$3.00" rating for CHEK. The price target was changed from $0.82 to 2.4%.
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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