Cyclacel Pharmaceuticals Inc Stock Forecast

Green day on Friday for Cyclacel Pharmaceuticals Inc stock after gaining 2.29%
(Updated on May 24, 2024)

CYCCP Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 14.22%. 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). Cyclacel Pharmaceuticals 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cyclacel Pharmaceuticals Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.35. On a fall, the stock will find some support from the short-term average at $6.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Cyclacel Pharmaceuticals Inc stock

Cyclacel Pharmaceuticals Inc finds support from accumulated volume at $6.99 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.320 between high and low, or 4.48%. For the last week, the stock has had daily average volatility of 2.40%.

The Cyclacel Pharmaceuticals Inc stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

Our recommended stop-loss: $6.79 (-5.02%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (CYCCP) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Cyclacel Pharmaceuticals Inc to open at $7.26, and during the day (based on 14 day Average True Range), to move between $6.55 and $7.75, which gives a possible trading interval of +/-$0.599 (+/-8.38%) up or down from last closing price. If Cyclacel Pharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 16.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.99 (2.24%) than the resistance at $7.35 (2.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cyclacel Pharmaceuticals Inc stock A Buy?

Cyclacel Pharmaceuticals 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 Cyclacel Pharmaceuticals Inc of Tuesday, May 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.