Check-Cap Ltd. Stock Forecast
Check-Cap Ltd. stock price ended at $2.29 on Friday, after gaining 0.661%.
(Updated on Apr 26, 2024)
The Check-Cap Ltd. stock price gained 0.661% on the last trading day (Friday, 26th Apr 2024), rising from $2.27 to $2.29. During the last trading day the stock fluctuated 3.60% from a day low at $2.22 to a day high of $2.30. The price has risen in 5 of the last 10 days and is up by 1.11% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 23 thousand shares were bought and sold for approximately $51.89 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.23% during the next 3 months and, with a 90% probability hold a price between $2.19 and $3.53 at the end of this 3-month period.
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CHEK Signals & Forecast
The Check-Cap Ltd. 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 $2.26 and $2.28. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -26.53%. 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 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Check-Cap Ltd. stock
Check-Cap Ltd. finds support from accumulated volume at $2.26 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 $0.0800 between high and low, or 3.60%. For the last week the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: $2.20 (-3.92%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (CHEK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Check-Cap Ltd. to open at $2.27, and during the day (based on 14 day Average True Range), to move between $2.12 and $2.45, which gives a possible trading interval of +/-$0.167 (+/-7.29%) up or down from last closing price. If Check-Cap Ltd. takes out the full calculated possible swing range there will be an estimated 14.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.26 (1.09%) than the resistance at $2.46 (7.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Check-Cap Ltd. stock A Buy?
Check-Cap Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.212 Hold/Accumulate Unchanged
Predicted Opening Price for Check-Cap Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.27 ( 0.729%) | $2.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHEK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.35 | 2.77 % | |
| R2 | 2.32 | 1.43 % | ||
| R1 | 2.30 | 0.608 % | ||
| Current price: | 2.29 | |||
| Support | S1 | 2.24 | -2.07 % | |
| S2 | 2.22 | -2.89 % | ||
| S3 | 2.19 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.75 | 20.35 % | |
| R2 | 2.47 | 8.10 % | ||
| R1 | 2.46 | 7.66 % | ||
| Current price | 2.29 | |||
| Support | S1 | 2.26 | -1.09% | |
| S2 | 2.18 | -4.60% | ||
| S3 | 1.93 | -15.54% |
FAQ
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