Forte Biosciences Inc. Stock Forecast
Stronger technical forecast for Forte Biosciences Inc. stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Forte Biosciences Inc. stock price gained 2.65% on the last trading day (Thursday, 25th Apr 2024), rising from $0.720 to $0.739. During the last trading day the stock fluctuated 2.07% from a day low at $0.725 to a day high of $0.740. The price has risen in 6 of the last 10 days and is up by 2.64% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 3 thousand shares were bought and sold for approximately $2.09 thousand. 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 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 14.19% during the next 3 months and, with a 90% probability hold a price between $0.653 and $0.90 at the end of this 3-month period.
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FBRX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -5.26%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Forte Biosciences 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 $0.739 and $0.708. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Monday, February 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, February 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Forte Biosciences Inc. stock
Forte Biosciences Inc. finds support from accumulated volume at $0.724 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0150 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: $0.703 (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (FBRX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Forte Biosciences Inc. to open at $0.735, and during the day (based on 14 day Average True Range), to move between $0.693 and $0.785, which gives a possible trading interval of +/-$0.0464 (+/-6.28%) up or down from last closing price. If Forte Biosciences Inc. takes out the full calculated possible swing range there will be an estimated 12.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.740 (0.14%) than the support at $0.724 (2.08%), 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 Forte Biosciences 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 Forte Biosciences Inc. 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: 2.324 Buy Candidate Upgraded
Predicted Opening Price for Forte Biosciences Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.735 ( 0.586%) | $0.739 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.750 | 1.44 % | |
| R2 | 0.744 | 0.668 % | ||
| R1 | 0.740 | 0.189 % | ||
| Current price: | 0.739 | |||
| Support | S1 | 0.729 | -1.36 % | |
| S2 | 0.725 | -1.84 % | ||
| S3 | 0.720 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.780 | 5.55 % | |
| R2 | 0.769 | 4.11 % | ||
| R1 | 0.740 | 0.135 % | ||
| Current price | 0.739 | |||
| Support | S1 | 0.724 | -2.08% | |
| S2 | 0.720 | -2.57% | ||
| S3 | 0.590 | -20.14% |
FAQ
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