Chimerix Stock Forecast
Green day on Wednesday for Chimerix stock after gaining 2.02%
(Updated on Mar 27, 2024)
The Chimerix stock price gained 2.02% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.99 to $1.01. During the last trading day the stock fluctuated 4.93% from a day low at $0.99 to a day high of $1.04. The price has been going up and down for this period, and there has been a -13.68% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 161 thousand more shares were traded than the day before. In total, 286 thousand shares were bought and sold for approximately $289.33 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.97 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.53% during the next 3 months and, with a 90% probability hold a price between $1.18 and $1.59 at the end of this 3-month period.
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CMRX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 5.65%. Further rise is indicated until a new top pivot has been found. Chimerix 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 Chimerix 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 $1.11. On a fall, the stock will find some support from the short-term average at $0.98. 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 Chimerix stock
Chimerix finds support from accumulated volume at $0.99 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 $0.0489 between high and low, or 4.93%. For the last week, the stock has had daily average volatility of 5.64%.
Chimerix 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 a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMRX) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Chimerix to open at $1.01, and during the day (based on 14 day Average True Range), to move between $0.94 and $1.08, which gives a possible trading interval of +/-$0.0692 (+/-6.86%) up or down from last closing price. If Chimerix takes out the full calculated possible swing range there will be an estimated 13.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.99 (1.98%) than the resistance at $1.05 (3.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chimerix stock A Buy?
Chimerix 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: -2.134 Sell Candidate Unchanged
Predicted Opening Price for Chimerix of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$1.01 ( 0.366%) | $1.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMRX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.06 | 5.21 % | |
R2 | 1.04 | 3.36 % | ||
R1 | 1.03 | 2.22 % | ||
Current price: | 1.01 | |||
Support | S1 | 1.00 | -1.48 % | |
S2 | 0.98 | -2.63 % | ||
S3 | 0.96 | -4.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.18 | 16.83 % | |
R2 | 1.15 | 13.86 % | ||
R1 | 1.05 | 3.96 % | ||
Current price | 1.01 | |||
Support | S1 | 0.99 | -1.98% | |
S2 | 0.96 | -4.70% | ||
S3 | 0.96 | -4.95% |
FAQ
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