Context Therapeutics Inc. Stock Forecast
Big movements in Context Therapeutics Inc. stock price on Friday moving 13.25% between high and low
(Updated on May 03, 2024)
The Context Therapeutics Inc. stock price gained 5.71% on the last trading day (Friday, 3rd May 2024), rising from $1.75 to $1.85. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 13.25% from a day low at $1.66 to a day high of $1.88. The price has risen in 7 of the last 10 days and is up by 40.15% over the past 2 weeks. Volume fell on the last day by -25 million shares and in total, 1 million shares were bought and sold for approximately $2.19 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.64, a level that may pose a second chance to hit a runner. According to fan-theory $1.93 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CNTX Signals & Forecast
The Context Therapeutics Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.49 and $1.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 42.31%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Context Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.75 and $1.52. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Context Therapeutics Inc. finds support just below today's level at $1.75. If this is broken, then the next support from accumulated volume will be at $1.52 and $1.49.
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 $0.220 between high and low, or 13.25%. For the last week, the stock has had daily average volatility of 13.63%.
Our recommended stop-loss: $1.79 (-3.18%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CNTX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Context Therapeutics Inc. to open at $1.80, and during the day (based on 14 day Average True Range), to move between $1.70 and $2.00, which gives a possible trading interval of +/-$0.147 (+/-7.94%) up or down from last closing price. If Context Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 15.89% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.75, some $0.100 (5.41%) from the current price of $1.85, our system finds the risk reward attractive.
Earnings coming up
Context Therapeutics Inc. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.390. We will update the financials statements for Context Therapeutics Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.56% in the first trading day after earnings release.
Is Context Therapeutics Inc. stock A Buy?
Context Therapeutics Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Context Therapeutics Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.80 ( 2.88%) | $1.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.02 | 9.01 % | |
| R2 | 1.93 | 4.47 % | ||
| R1 | 1.88 | 1.66 % | ||
| Current price: | 1.85 | |||
| Support | S1 | 1.71 | -7.43 % | |
| S2 | 1.66 | -10.23 % | ||
| S3 | 1.58 | -14.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.85 | |||
| Support | S1 | 1.75 | -5.41% | |
| S2 | 1.52 | -17.84% | ||
| S3 | 1.49 | -19.46% |
FAQ
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