Eliem Therapeutics, Inc. Stock Forecast
Big movements in Eliem Therapeutics, Inc. stock price on Friday moving 25.09% between high and low
(Updated on Apr 26, 2024)
The Eliem Therapeutics, Inc. stock price gained 17.40% on the last trading day (Friday, 26th Apr 2024), rising from $3.39 to $3.98. During the last trading day the stock fluctuated 25.09% from a day low at $3.33 to a day high of $4.16. The price has fallen in 7 of the last 10 days and is down by -7.66% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 191 thousand more shares were traded than the day before. In total, 580 thousand shares were bought and sold for approximately $2.31 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.94% during the next 3 months and, with a 90% probability hold a price between $3.96 and $6.71 at the end of this 3-month period.
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ELYM Signals & Forecast
The Eliem Therapeutics, 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 $3.81 and $3.21. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -16.21%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Eliem Therapeutics, Inc. stock
Eliem Therapeutics, Inc. finds support from accumulated volume at $3.85 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 $0.83 between high and low, or 25.09%. For the last week, the stock has had daily average volatility of 13.26%.
Our recommended stop-loss: $3.75 (-5.72%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (ELYM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Eliem Therapeutics, Inc. to open at $3.82, and during the day (based on 14 day Average True Range), to move between $3.56 and $4.40, which gives a possible trading interval of +/-$0.416 (+/-10.46%) up or down from last closing price. If Eliem Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 20.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.85 (3.27%) than the resistance at $4.31 (8.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eliem Therapeutics, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eliem Therapeutics, Inc. stock to perform well in the short-term.
Current score: 3.561 Buy Candidate Unchanged
Predicted Opening Price for Eliem Therapeutics, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.82 ( 3.98%) | $3.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELYM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.66 | 16.97 % | |
| R2 | 4.34 | 8.97 % | ||
| R1 | 4.14 | 4.02 % | ||
| Current price: | 3.98 | |||
| Support | S1 | 3.50 | -11.99 % | |
| S2 | 3.31 | -16.94 % | ||
| S3 | 2.99 | -24.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.75 | 19.35 % | |
| R2 | 4.58 | 15.08 % | ||
| R1 | 4.31 | 8.29 % | ||
| Current price | 3.98 | |||
| Support | S1 | 3.85 | -3.27% | |
| S2 | 3.66 | -8.04% | ||
| S3 | 3.39 | -14.82% |
FAQ
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