Cellectar Biosciences Stock Forecast
A very red day for Cellectar Biosciences stock price after a -5.58% fall in the Wednesday trading session
(Updated on Mar 27, 2024)
The Cellectar Biosciences stock price fell by -5.58% on the last day (Wednesday, 27th Mar 2024) from $3.85 to $3.64. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 9.92% from a day low at $3.53 to a day high of $3.88. The price has fallen in 6 of the last 10 days but is still up by 2.68% over the past 2 weeks. Volume has increased on the last day by 804 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 $5.34 million.
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 18.80% during the next 3 months and, with a 90% probability hold a price between $3.79 and $5.27 at the end of this 3-month period.
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CLRB Signals & Forecast
There are few to no technical positive signals at the moment. The Cellectar Biosciences stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.83 and $3.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -14.27%. 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 for Cellectar Biosciences stock
Cellectar Biosciences finds support from accumulated volume at $3.47 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 $0.350 between high and low, or 9.92%. For the last week, the stock has had daily average volatility of 7.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLRB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Cellectar Biosciences to open at $3.68, and during the day (based on 14 day Average True Range), to move between $3.36 and $3.91, which gives a possible trading interval of +/-$0.272 (+/-7.47%) up or down from last closing price. If Cellectar Biosciences takes out the full calculated possible swing range there will be an estimated 14.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.64 (0.14%) than the support at $3.47 (4.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cellectar Biosciences stock A Buy?
The Cellectar Biosciences stock holds several negative signals and despite the positive trend, we believe Cellectar Biosciences will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Strong Sell candidate.
Current score: -6.084 Strong Sell Candidate Downgraded
Predicted Opening Price for Cellectar Biosciences of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$3.68 ( 1.28%) | $3.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLRB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.03 | 10.91 % | |
R2 | 3.90 | 7.23 % | ||
R1 | 3.82 | 4.96 % | ||
Current price: | 3.64 | |||
Support | S1 | 3.55 | -2.39 % | |
S2 | 3.47 | -4.67 % | ||
S3 | 3.33 | -8.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.24 | 16.64 % | |
R2 | 3.65 | 0.413 % | ||
R1 | 3.64 | 0.138 % | ||
Current price | 3.64 | |||
Support | S1 | 3.47 | -4.54% | |
S2 | 3.20 | -11.97% | ||
S3 | 2.83 | -22.15% |
FAQ
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