CytRx Corporation stock upgraded to Hold/Accumulate.
(Updated on Nov 26, 2021)
Hold candidate since 2021-11-26 PDF
The CytRx Corporation stock price fell by -0.0167% on the last day (Friday, 26th Nov 2021) from $0.60 to $0.60. and has now fallen 3 days in a row. During the day the stock fluctuated 8.93% from a day low at $0.56 to a day high of $0.61. The price has fallen in 7 of the last 10 days and is down by -24.04% for this period. Volume has increased on the last day by 10 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, 25 thousand shares were bought and sold for approximately $15.16 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CytRx Corporation stock with a 90% probability to be traded between $0.48 and $0.84 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.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, November 19, 2021, and so far it has risen 3.43%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CytRx Corporation 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 $0.60 and $0.61. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). CytRx Corporation 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
CytRx Corporation finds support from accumulated volume at $0.58 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 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 $0.0500 between high and low, or 8.93%. For the last week, the stock has had a daily average volatility of 11.74%.
Our recommended stop-loss: $0.57 (-4.24%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Is CytRx Corporation stock A Buy?
CytRx Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.071
Predicted Opening Price for CytRx Corporation of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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CYTR Insider Trading
|Aug 14, 2020||Buy||150 000||Brien Earl W||Common Stock, par value $0.001 per share|
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