Day One Biopharmaceuticals, Inc. Stock Forecast
Big movements in Day One Biopharmaceuticals, Inc. stock price on Monday moving 12.13% between high and low
(Updated on Apr 29, 2024)
The Day One Biopharmaceuticals, Inc. stock price gained 10.46% on the last trading day (Monday, 29th Apr 2024), rising from $14.92 to $16.48. During the last trading day the stock fluctuated 12.13% from a day low at $14.93 to a day high of $16.74. The price has risen in 7 of the last 10 days and is up by 18.99% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $29.70 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.10 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.18% during the next 3 months and, with a 90% probability hold a price between $12.77 and $16.55 at the end of this 3-month period.
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DAWN Signals & Forecast
Mostly positive signals in the chart today. The Day One Biopharmaceuticals, 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 $15.25 and $14.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 24.75%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Friday, April 12, 2024 and based on theory for this formation the price should go up by 11.22% to $18.33 within 17 trading days since signal was issued (Tuesday, April 30, 2024).
Support, Risk & Stop-loss for Day One Biopharmaceuticals, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $15.19 and $14.92. 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, Day One Biopharmaceuticals, Inc. finds support just below today's level at $15.19. If this is broken, then the next support from accumulated volume will be at $14.92 and $13.21.
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 $1.81 between high and low, or 12.13%. For the last week, the stock has had daily average volatility of 13.33%.
Our recommended stop-loss: $15.93 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (DAWN) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Day One Biopharmaceuticals, Inc. to open at $16.05, and during the day (based on 14 day Average True Range), to move between $15.26 and $17.70, which gives a possible trading interval of +/-$1.22 (+/-7.38%) up or down from last closing price. If Day One Biopharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 14.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.64 (0.97%) than the support at $15.19 (7.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Day One Biopharmaceuticals, Inc. will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.670. We will update the financials statements for Day One Biopharmaceuticals, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.37% in the first trading day after earnings release.
Is Day One Biopharmaceuticals, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.578 Buy Candidate Upgraded
Predicted Opening Price for Day One Biopharmaceuticals, Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $16.05 ( 2.61%) | $16.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DAWN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.86 | 8.38 % | |
| R2 | 17.17 | 4.18 % | ||
| R1 | 16.74 | 1.59 % | ||
| Current price: | 16.48 | |||
| Support | S1 | 15.36 | -6.81 % | |
| S2 | 14.93 | -9.40 % | ||
| S3 | 14.24 | -13.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.46 | 5.95 % | |
| R2 | 17.38 | 5.46 % | ||
| R1 | 16.64 | 0.97 % | ||
| Current price | 16.48 | |||
| Support | S1 | 15.19 | -7.83% | |
| S2 | 14.92 | -9.47% | ||
| S3 | 13.21 | -19.84% |
FAQ
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