Cocrystal Pharma Inc Stock Forecast
Cocrystal Pharma Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Cocrystal Pharma Inc stock price gained 4.55% on the last trading day (Thursday, 18th Apr 2024), rising from $1.43 to $1.50. During the last trading day the stock fluctuated 2.39% from a day low at $1.46 to a day high of $1.50. The price has fallen in 6 of the last 10 days but is still up by 1.7% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 5 thousand shares were bought and sold for approximately $7.57 thousand. 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 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 -5.56% during the next 3 months and, with a 90% probability hold a price between $1.30 and $1.49 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.
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COCP Signals & Forecast
The Cocrystal Pharma Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.48 and $1.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.19%. Further rise is indicated until a new top pivot has been found. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cocrystal Pharma Inc stock
Cocrystal Pharma Inc finds support from accumulated volume at $1.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0349 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 7.13%.
Our recommended stop-loss: $1.44 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (COCP) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cocrystal Pharma Inc to open at $1.48, and during the day (based on 14 day Average True Range), to move between $1.39 and $1.60, which gives a possible trading interval of +/-$0.110 (+/-7.33%) up or down from last closing price. If Cocrystal Pharma Inc takes out the full calculated possible swing range there will be an estimated 14.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.50 (0.33%) than the support at $1.48 (1.00%), 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 Cocrystal Pharma Inc stock A Buy?
Cocrystal Pharma 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.701 Hold/Accumulate Upgraded
Predicted Opening Price for Cocrystal Pharma Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.48 ( 0.778%) | $1.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COCP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.52 | 1.56 % | |
| R2 | 1.50 | 0.665 % | ||
| R1 | 1.50 | 0.114 % | ||
| Current price: | 1.50 | |||
| Support | S1 | 1.47 | -1.67 % | |
| S2 | 1.46 | -2.22 % | ||
| S3 | 1.45 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.60 | 6.69 % | |
| R2 | 1.51 | 1.00 % | ||
| R1 | 1.50 | 0.334 % | ||
| Current price | 1.50 | |||
| Support | S1 | 1.48 | -1.00% | |
| S2 | 1.47 | -1.67% | ||
| S3 | 1.40 | -6.35% |
FAQ
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