High volatility in FibroGen stock price on Friday which ended trading at $0.628
(Updated on Dec 01, 2023)
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Given the current short-term trend, the stock is expected to fall -47.73% during the next 3 months and, with a 90% probability hold a price between $0.131 and $0.328 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.
FGEN Signals & Forecast
Mostly positive signals in the chart today. The FibroGen stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.506 and $0.525. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, November 10, 2023, and so far it has risen 65.32%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for FibroGen stock
FibroGen finds support from accumulated volume at $0.620 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 $0.0900 between high and low, or 16.36%. For the last week, the stock has had daily average volatility of 17.19%.
Our recommended stop-loss: $0.606 (-3.54%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (FGEN) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect FibroGen to open at $0.606, and during the day (based on 14 day Average True Range), to move between $0.548 and $0.709, which gives a possible trading interval of +/-$0.0804 (+/-12.80%) up or down from last closing price. If FibroGen takes out the full calculated possible swing range there will be an estimated 25.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.620 (1.32%) than the resistance at $0.719 (14.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FibroGen stock A Buy?
FibroGen holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect FibroGen stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.403 Open Broker AccountStrong Buy Candidate Upgraded
Predicted Opening Price for FibroGen of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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