Equillium Inc. Stock Forecast
Equillium Inc. stock price fell more than -5.52% Friday closing at $1.71
(Updated on Apr 26, 2024)
The Equillium Inc. stock price fell by -5.52% on the last day (Friday, 26th Apr 2024) from $1.81 to $1.71. During the last trading day the stock fluctuated 9.47% from a day low at $1.69 to a day high of $1.85. The price has been going up and down for this period, and there has been a -7.57% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -50 thousand shares and in total, 80 thousand shares were bought and sold for approximately $137.01 thousand.
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 15.34% during the next 3 months and, with a 90% probability hold a price between $1.39 and $3.85 at the end of this 3-month period.
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EQ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Equillium Inc. 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 $1.72 and $2.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 20, 2024, and so far it has fallen -43.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Equillium Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.54 and $1.52. 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, Equillium Inc. finds support just below today's level at $1.54. If this is broken, then the next support from accumulated volume will be at $1.52 and $1.48.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.160 between high and low, or 9.47%. For the last week the stock has had daily average volatility of 9.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EQ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Equillium Inc. to open at $1.75, and during the day (based on 14 day Average True Range), to move between $1.49 and $1.93, which gives a possible trading interval of +/-$0.221 (+/-12.90%) up or down from last closing price. If Equillium Inc. takes out the full calculated possible swing range there will be an estimated 25.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.54 (9.94%) than the resistance at $2.02 (18.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Equillium Inc. stock A Buy?
The Equillium Inc. stock holds several negative signals and despite the positive trend, we believe Equillium Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.728 Sell Candidate Unchanged
Predicted Opening Price for Equillium Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $1.75 ( 2.34%) | $1.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.91 | 11.70 % | |
| R2 | 1.85 | 8.12 % | ||
| R1 | 1.81 | 5.91 % | ||
| Current price: | 1.71 | |||
| Support | S1 | 1.69 | -1.24 % | |
| S2 | 1.65 | -3.44 % | ||
| S3 | 1.59 | -7.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.11 | 23.39 % | |
| R2 | 2.06 | 20.47 % | ||
| R1 | 2.02 | 18.13 % | ||
| Current price | 1.71 | |||
| Support | S1 | 1.54 | -9.94% | |
| S2 | 1.52 | -11.11% | ||
| S3 | 1.48 | -13.45% |
FAQ
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