Context Therapeutics Inc. Stock Forecast
Volatile ride for Context Therapeutics Inc. stock price on Friday moving between $1.78 and $2.10
(Updated on May 17, 2024)
The Context Therapeutics Inc. stock price gained 11.11% on the last trading day (Friday, 17th May 2024), rising from $1.80 to $2.00. During the last trading day the stock fluctuated 17.98% from a day low at $1.78 to a day high of $2.10. The price has risen in 6 of the last 10 days and is up by 8.11% over the past 2 weeks. Volume fell on the last day by -201 thousand shares and in total, 616 thousand shares were bought and sold for approximately $1.23 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 $1.81, a level that may pose a second chance to hit a runner. According to fan-theory $2.14 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $1.80 and $1.51. 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 53.85%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.
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 $1.85 and $1.80. 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 $1.85. If this is broken, then the next support from accumulated volume will be at $1.80 and $1.75.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.320 between high and low, or 17.98%. For the last week the stock has had daily average volatility of 11.50%.
Our recommended stop-loss: $1.94 (-3.04%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (CNTX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Context Therapeutics Inc. to open at $1.96, and during the day (based on 14 day Average True Range), to move between $1.82 and $2.18, which gives a possible trading interval of +/-$0.178 (+/-8.89%) up or down from last closing price. If Context Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 17.77% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.85, some $0.150 (7.50%) from the current price of $2.00, our system finds the risk reward attractive.
Is Context Therapeutics Inc. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Context Therapeutics Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.869 Strong Buy Candidate Upgraded
Predicted Opening Price for Context Therapeutics Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $1.96 ( 2.00%) | $2.00 |
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 | 2.28 | 14.00 % | |
| R2 | 2.16 | 7.89 % | ||
| R1 | 2.08 | 4.11 % | ||
| Current price: | 2.00 | |||
| Support | S1 | 1.84 | -8.11 % | |
| S2 | 1.76 | -11.89 % | ||
| S3 | 1.64 | -18.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.00 | |||
| Support | S1 | 1.85 | -7.50% | |
| S2 | 1.80 | -10.00% | ||
| S3 | 1.75 | -12.50% |
FAQ
Click here for our free guide on how to buy Context Therapeutics Inc. Stock.
