Contineum Therapeutics, Inc. Class A Stock Forecast
Green day on Tuesday for Contineum Therapeutics, Inc. Class A
(Updated on Jun 25, 2024)
The Contineum Therapeutics, Inc. Class A stock price gained 3.86% on the last trading day (Tuesday, 25th Jun 2024), rising from $19.19 to $19.93. During the last trading day the stock fluctuated 6.27% from a day low at $18.81 to a day high of $19.99. The price has risen in 5 of the last 10 days and is up by 11.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 136 thousand shares were bought and sold for approximately $2.71 million.
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 $18.38, a level that may pose a second chance to hit a runner. According to fan-theory $20.39 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CTNM Signals & Forecast
Mostly positive signals in the chart today. The Contineum Therapeutics, Inc. Class A 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 $18.35 and $16.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 24.95%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Contineum Therapeutics, Inc. Class A stock
On the downside, the stock finds support just below today's level from accumulated volume at $18.59 and $15.40. 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, Contineum Therapeutics, Inc. Class A finds support just below today's level at $18.59. If this is broken, then the next support from accumulated volume will be at $15.40 and $15.21.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.18 between high and low, or 6.27%. For the last week, the stock has had daily average volatility of 18.70%.
Our recommended stop-loss: $19.20 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (CTNM) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Contineum Therapeutics, Inc. Class A Common Stock to open at $19.58, and during the day (based on 14 day Average True Range), to move between $18.31 and $21.55, which gives a possible trading interval of +/-$1.62 (+/-8.11%) up or down from last closing price. If Contineum Therapeutics, Inc. Class A Common Stock takes out the full calculated possible swing range there will be an estimated 16.22% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $18.59, some $1.34 (6.72%) from the current price of $19.93, our system finds the risk reward attractive.
Is Contineum Therapeutics, Inc. Class A Common Stock 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 Contineum Therapeutics, Inc. Class A stock to perform well in the short-term period.
Current score: 3.963 Buy Candidate Unchanged
Predicted Opening Price for Contineum Therapeutics, Inc. Class A Common Stock of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$19.58 ( 1.77%) | $19.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTNM
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 20.76 | 4.15% |
R2 | 20.31 | 1.89% |
R1 | 20.03 | 0.489% |
Price | 19.93 | |
S1 | 19.13 | -4.03% |
S2 | 18.85 | -5.43% |
S3 | 18.40 | -7.69% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 19.93 | |
S1 | 18.59 | -6.72% |
S2 | 15.40 | -22.73% |
S3 | 15.21 | -23.68% |
FAQ
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