Crescita Therapeutics Inc. Stock Forecast
Big movements in Crescita Therapeutics Inc. stock price on Friday moving 12.77% between high and low
(Updated on Jun 28, 2024)
The Crescita Therapeutics Inc. stock price gained 15.22% on the last trading day (Friday, 28th Jun 2024), rising from $0.460 to $0.530. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.77% from a day low at $0.470 to a day high of $0.530. The price has risen in 6 of the last 10 days and is up by 23.26% 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, 12 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately $10.87 thousand.
Given the current horizontal trend, you can expect Crescita Therapeutics Inc. stock with a 90% probability to be traded between $0.419 and $0.534 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTX.TO Signals & Forecast
The Crescita Therapeutics Inc. 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 $0.452 and $0.435. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 27.71%. 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). Crescita Therapeutics Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Crescita Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.440 and $0.430. 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, Crescita Therapeutics Inc. finds support just below today's level at $0.440. If this is broken, then the next support from accumulated volume will be at $0.430 and $0.420.
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 $0.0600 between high and low, or 12.77%. For the last week, the stock has had daily average volatility of 4.95%.
The Crescita Therapeutics Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.513 (-3.20%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (CTX.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Crescita Therapeutics Inc. to open at $0.510, and during the day (based on 14 day Average True Range), to move between $0.516 and $0.544, which gives a possible trading interval of +/-$0.0136 (+/-2.57%) up or down from last closing price. If Crescita Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.440, some $0.0900 (16.98%) from the current price of $0.530, our system finds the risk reward attractive.
Is Crescita Therapeutics Inc. stock A Buy?
Crescita Therapeutics 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Crescita Therapeutics Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.510 ( 3.77%) | $0.530 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTX.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.570 | 7.55% |
| R2 | 0.547 | 3.22% |
| R1 | 0.533 | 0.551% |
| Price | 0.530 | |
| S1 | 0.487 | -8.10% |
| S2 | 0.473 | -10.77% |
| S3 | 0.450 | -15.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.530 | |
| S1 | 0.440 | -16.98% |
| S2 | 0.430 | -18.87% |
| S3 | 0.420 | -20.75% |
FAQ
Click here for our free guide on how to buy Crescita Therapeutics Inc. Stock.
