Alpha Tau Medical Ltd. Stock Forecast
High volatility in Alpha Tau Medical Ltd. stock price on Friday which ended trading at $2.41
(Updated on Apr 26, 2024)
The Alpha Tau Medical Ltd. stock price gained 0.208% on the last trading day (Friday, 26th Apr 2024), rising from $2.40 to $2.41. During the last trading day the stock fluctuated 17.90% from a day low at $2.15 to a day high of $2.54. The price has fallen in 8 of the last 10 days and is down by -14.72% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 69 thousand more shares were traded than the day before. In total, 145 thousand shares were bought and sold for approximately $349.02 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.39 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -19.54% during the next 3 months and, with a 90% probability hold a price between $1.92 and $2.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DRTS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.208%. Further rise is indicated until a new top pivot has been found. Alpha Tau Medical Ltd. 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alpha Tau Medical Ltd. 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 $2.49 and $2.82. 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).
Support, Risk & Stop-loss for Alpha Tau Medical Ltd. stock
Alpha Tau Medical Ltd. finds support from accumulated volume at $2.40 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 $0.385 between high and low, or 17.90%. For the last week, the stock has had daily average volatility of 7.30%.
Alpha Tau Medical Ltd. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRTS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Alpha Tau Medical Ltd. to open at $2.36, and during the day (based on 14 day Average True Range), to move between $2.28 and $2.53, which gives a possible trading interval of +/-$0.124 (+/-5.15%) up or down from last closing price. If Alpha Tau Medical Ltd. takes out the full calculated possible swing range there will be an estimated 10.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.40 (0.21%) than the resistance at $2.90 (20.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alpha Tau Medical Ltd. stock A Buy?
Alpha Tau Medical Ltd. holds several negative signals and is within a 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.217 Sell Candidate Upgraded
Predicted Opening Price for Alpha Tau Medical Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.36 ( 1.73%) | $2.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRTS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.75 | 14.27 % | |
| R2 | 2.60 | 8.16 % | ||
| R1 | 2.51 | 4.38 % | ||
| Current price: | 2.41 | |||
| Support | S1 | 2.22 | -7.84 % | |
| S2 | 2.13 | -11.62 % | ||
| S3 | 1.98 | -17.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.00 | 24.74 % | |
| R2 | 2.95 | 22.66 % | ||
| R1 | 2.90 | 20.58 % | ||
| Current price | 2.41 | |||
| Support | S1 | 2.40 | -0.208% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Alpha Tau Medical Ltd. Stock.
