Evaluation of CytomX Therapeutics stock downgraded after the last trading session.
(Updated on September 28, 2021)
Sell candidate since 2021-09-28 PDF
The CytomX Therapeutics stock price fell by -4.62% on the last day (Tuesday, 28th Sep 2021) from $5.41 to $5.16. During the day the stock fluctuated 4.67% from a day low at $5.14 to a day high of $5.38. The price has been going up and down for this period, and there has been a 3.2% gain for the last 2 weeks. Volume has increased on the last day by 95 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 436 thousand shares were bought and sold for approximately $2.25 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $5.37 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.27% during the next 3 months and, with a 90% probability hold a price between $3.18 and $4.44 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.
Signals & Forecast
The CytomX Therapeutics stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $5.31. On a fall, the stock will find some support from the long-term average at approximately $5.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, September 21, 2021, and so far it has fallen -5.49%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
CytomX Therapeutics finds support from accumulated volume at $4.91 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.24 between high and low, or 4.67%. For the last week, the stock has had a daily average volatility of 4.25%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is CytomX Therapeutics stock A Buy?
CytomX Therapeutics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.339
Predicted Opening Price for CytomX Therapeutics of Wednesday, September 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price September 29, 2021||Current price|
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On August 09, 2021 "HC Wainwright" gave "$12.00" rating for CTMX. The price target was changed from $5.23 to 0.4%.
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