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Connect Biopharma Holdings Ltd American Stock Forecast NASDAQ:CNTB

$4.84 (4.09%)

Volume: 339k

Closed: Dec 08, 2021

Hollow Logo Score: -1.701

Connect Biopharma Holdings Ltd American Stock Forecast

$4.84 (4.09%)

Volume: 339k

Closed: Dec 08, 2021

Score Hollow Logo -1.701
Which way will CNTB go? Request

CNTB Stock Risk

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.53 between high and low, or 11.73%. For the last week, the stock has had a daily average volatility of 9.39%.

Our recommended stop-loss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 9 and the stock is extremely oversold on RSI14 and is now having a minor correction up. Further gains in the short-term can be expected, and some stocks will provide a very good short-term return from this kind of RSI position unless there is a fundamental risk for bankruptcy or other issues that may affect the stock negatively.

High volatility in Connect Biopharma Holdings Ltd American stock price on Wednesday which ended trading at $4.84
(Updated on Dec 08, 2021)


Sell candidate since 2021-10-05 Loss -77.91%

The Connect Biopharma Holdings Ltd American stock price gained 4.09% on the last trading day (Wednesday, 8th Dec 2021), rising from $4.65 to $4.84. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 11.73% from a day low at $4.52 to a day high of $5.05. The price has risen in 6 of the last 10 days and is up by 11.78% over the past 2 weeks. Volume fell on the last day by -344 thousand shares and in total, 339 thousand shares were bought and sold for approximately $1.64 million. 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -68.57% during the next 3 months and, with a 90% probability hold a price between $0.84 and $2.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 13.62%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Connect Biopharma Holdings Ltd American 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 $11.24. On a fall, the stock will find some support from the short-term average at $4.52. 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

Connect Biopharma Holdings Ltd American finds support from accumulated volume at $4.69 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.53 between high and low, or 11.73%. For the last week, the stock has had a daily average volatility of 9.39%.

Connect Biopharma Holdings Ltd American is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate. Since the Connect Biopharma Holdings Ltd American has been rising for 6 days in a row, the risk over the next couple of days has increased.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Connect Biopharma Holdings Limited American Depositary Shares stock A Buy?

Connect Biopharma Holdings Ltd American 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: -1.701

Predicted Opening Price for Connect Biopharma Holdings Limited American Depositary Shares of Thursday, December 9, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 9, 2021 Current price
$4.80 $4.84 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

CICC Research is very positive about CNTB and gave it a "Outperform" rating on Jul 02, 2021. The price target was set to $27.00.

Volatility and Risk
Daily Average Volatility: 9.39 %
Overall Risk: Very High High Medium Low Very Low
Volatility
9.39 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $5.12
Price: $4.84
Support: $4.69

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 5.33 10.19 %
5.13 6.01 %
5.01 3.43 %
Current price: 4.84
Support 4.60 -4.94 %
4.48 -7.52 %
4.27 -11.71 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
5.12 5.79 %
Current price 4.84
Support 4.69 -3.10%
4.35 -10.12%
4.33 -10.54%

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