Cyclacel Pharmaceuticals Inc Stock Forecast
Volatile ride for Cyclacel Pharmaceuticals Inc stock price on Friday moving between $6.26 and $7.06
(Updated on May 03, 2024)
The Cyclacel Pharmaceuticals Inc stock price fell by -12.32% on the last day (Friday, 3rd May 2024) from $7.14 to $6.26. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 12.78% from a day low at $6.26 to a day high of $7.06. The price has fallen in 7 of the last 10 days and is down by -51.85% for this period. Volume has increased on the last day by 453 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, 680 shares were bought and sold for approximately $4.26 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($6.99) are considered to be a "second chance" to get out. According to the fan-theory -$1.78 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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CYCCP Signals & Forecast
There are few to no technical positive signals at the moment. The Cyclacel Pharmaceuticals Inc 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 $8.10 and $15.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -37.40%. 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). Cyclacel Pharmaceuticals Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cyclacel Pharmaceuticals Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.800 between high and low, or 12.78%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CYCCP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cyclacel Pharmaceuticals Inc to open at $6.53, and during the day (based on 14 day Average True Range), to move between $4.94 and $7.58, which gives a possible trading interval of +/-$1.32 (+/-21.03%) up or down from last closing price. If Cyclacel Pharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 42.06% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $7.14, some $0.88 (14.06%) from the current price of $6.26, our system finds the risk reward not very attractive.
Is Cyclacel Pharmaceuticals Inc stock A Buy?
Cyclacel Pharmaceuticals Inc 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.
Current score: -5.781 Strong Sell Candidate Unchanged
Predicted Opening Price for Cyclacel Pharmaceuticals Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$6.53 ( 4.26%) | $6.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYCCP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.33 | 17.04 % | |
R2 | 7.02 | 12.16 % | ||
R1 | 6.83 | 9.14 % | ||
Current price: | 6.26 | |||
Support | S1 | 6.22 | -0.622 % | |
S2 | 6.03 | -3.64 % | ||
S3 | 5.73 | -8.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 7.35 | 17.41 % | ||
R1 | 7.14 | 14.06 % | ||
Current price | 6.26 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
CYCCP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 12, 2024 | Jan 19, 2024 | Feb 01, 2024 | $0.150 | 0.748% |
2 | Sep 06, 2023 | Oct 19, 2023 | Nov 01, 2023 | $0.150 | 2.14% |
3 | Jun 13, 2023 | Jul 20, 2023 | Aug 01, 2023 | $0.150 | 0.94% |
4 | Mar 08, 2023 | Apr 20, 2023 | May 01, 2023 | $0.150 | 0.85% |
5 | Dec 13, 2022 | Jan 12, 2023 | May 01, 2023 | $0.150 | 0.85% |
FAQ
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