CytomX Therapeutics Stock Forecast
Stronger technical forecast for CytomX Therapeutics stock price after Friday trading.
(Updated on Apr 26, 2024)
The CytomX Therapeutics stock price fell by -0.625% on the last day (Friday, 26th Apr 2024) from $1.60 to $1.59. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.77% from a day low at $1.59 to a day high of $1.65. The price has fallen in 8 of the last 10 days and is down by -26.05% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -38 thousand shares and in total, 249 thousand shares were bought and sold for approximately $395.57 thousand.
Given the current short-term trend, the stock is expected to rise 14.72% during the next 3 months and, with a 90% probability hold a price between $1.82 and $3.41 at the end of this 3-month period.
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CTMX Signals & Forecast
There are few to no technical positive signals at the moment. The CytomX Therapeutics stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.65 and $2.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -41.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for CytomX Therapeutics stock
CytomX Therapeutics finds support from accumulated volume at $1.53 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 3.77%. For the last week the stock has had daily average volatility of 4.65%.
CytomX Therapeutics is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTMX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect CytomX Therapeutics to open at $1.61, and during the day (based on 14 day Average True Range), to move between $1.47 and $1.71, which gives a possible trading interval of +/-$0.120 (+/-7.55%) up or down from last closing price. If CytomX Therapeutics takes out the full calculated possible swing range there will be an estimated 15.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.65 (3.77%) than the support at $1.53 (3.77%), 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?
The CytomX Therapeutics stock holds several negative signals and despite the positive trend, we believe CytomX Therapeutics will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.400 Sell Candidate Upgraded
Predicted Opening Price for CytomX Therapeutics of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$1.61 ( 1.26%) | $1.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTMX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.67 | 5.03 % | |
R2 | 1.65 | 3.59 % | ||
R1 | 1.63 | 2.70 % | ||
Current price: | 1.59 | |||
Support | S1 | 1.59 | -0.184 % | |
S2 | 1.57 | -1.07 % | ||
S3 | 1.55 | -2.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.76 | 10.69 % | |
R2 | 1.67 | 5.03 % | ||
R1 | 1.65 | 3.77 % | ||
Current price | 1.59 | |||
Support | S1 | 1.53 | -3.77% | |
S2 | 1.50 | -5.66% | ||
S3 | 1.41 | -11.32% |
FAQ
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