CytomX Therapeutics stock upgraded to Buy Candidate.
(Updated on Dec 01, 2023)
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Given the current short-term trend, the stock is expected to fall -4.73% during the next 3 months and, with a 90% probability hold a price between $0.99 and $1.34 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.
CTMX Signals & Forecast
The CytomX Therapeutics 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 $1.35 and $1.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, October 27, 2023, and so far it has risen 31.78%. 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 CytomX Therapeutics stock
CytomX Therapeutics finds support from accumulated volume at $1.38 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 $0.0700 between high and low, or 5.15%. For the last week the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: $1.37 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (CTMX) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect CytomX Therapeutics to open at $1.40, and during the day (based on 14 day Average True Range), to move between $1.33 and $1.49, which gives a possible trading interval of +/-$0.0784 (+/-5.56%) up or down from last closing price. If CytomX Therapeutics takes out the full calculated possible swing range there will be an estimated 11.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.42 (0.71%) than the support at $1.38 (2.13%), 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 CytomX Therapeutics stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.795 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for CytomX Therapeutics of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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