EyePoint Pharmaceuticals Inc. Stock Forecast
High volatility in EyePoint Pharmaceuticals Inc. stock price on Thursday which ended trading at $19.94
(Updated on May 02, 2024)
The EyePoint Pharmaceuticals Inc. stock price gained 10.53% on the last trading day (Thursday, 2nd May 2024), rising from $18.04 to $19.94. During the last trading day the stock fluctuated 13.97% from a day low at $17.83 to a day high of $20.32. The price has risen in 6 of the last 10 days and is up by 13.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 824 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $30.95 million.
Given the current short-term trend, the stock is expected to fall -38.93% during the next 3 months and, with a 90% probability hold a price between $9.23 and $12.18 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.
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EYPT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 23.39%. Further rise is indicated until a new top pivot has been found. 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. The EyePoint Pharmaceuticals Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $20.19. On a fall, the stock will find some support from the short-term average at $17.51. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for EyePoint Pharmaceuticals Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.65 and $17.50. 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, EyePoint Pharmaceuticals Inc. finds support just below today's level at $17.65. If this is broken, then the next support from accumulated volume will be at $17.50 and $16.95.
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 $2.49 between high and low, or 13.97%. For the last week, the stock has had daily average volatility of 9.02%.
Our recommended stop-loss: $19.10 (-4.20%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (EYPT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect EyePoint Pharmaceuticals Inc. to open at $19.36, and during the day (based on 14 day Average True Range), to move between $18.43 and $21.45, which gives a possible trading interval of +/-$1.51 (+/-7.57%) up or down from last closing price. If EyePoint Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 15.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.67 (3.66%) than the support at $17.65 (11.48%), 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.
Is EyePoint Pharmaceuticals 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 Sell to a Buy candidate.
Current score: 1.040 Buy Candidate Upgraded
Predicted Opening Price for EyePoint Pharmaceuticals Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $19.36 ( 2.89%) | $19.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EYPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.85 | 9.60 % | |
| R2 | 20.90 | 4.83 % | ||
| R1 | 20.31 | 1.88 % | ||
| Current price: | 19.94 | |||
| Support | S1 | 18.41 | -7.66 % | |
| S2 | 17.82 | -10.61 % | ||
| S3 | 16.87 | -15.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.87 | 14.69 % | |
| R2 | 21.48 | 7.72 % | ||
| R1 | 20.67 | 3.66 % | ||
| Current price | 19.94 | |||
| Support | S1 | 17.65 | -11.48% | |
| S2 | 17.50 | -12.24% | ||
| S3 | 16.95 | -14.99% |
FAQ
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