FibroGen Stock Forecast
Volatile ride for FibroGen stock price on Monday moving between $1.02 and $1.17
(Updated on Apr 29, 2024)
The FibroGen stock price gained 4.81% on the last trading day (Monday, 29th Apr 2024), rising from $1.04 to $1.09. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.71% from a day low at $1.02 to a day high of $1.17. The price has fallen in 7 of the last 10 days and is down by -16.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 518 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $1.27 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.94 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -33.43% during the next 3 months and, with a 90% probability hold a price between $0.625 and $1.26 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FGEN Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 10.74%. 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). FibroGen has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FibroGen 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 $1.73. On a fall, the stock will find some support from the short-term average at $1.07. 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.
Support, Risk & Stop-loss for FibroGen stock
FibroGen finds support from accumulated volume at $1.07 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 $0.150 between high and low, or 14.71%. For the last week, the stock has had daily average volatility of 14.96%.
FibroGen is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FGEN) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect FibroGen to open at $1.09, and during the day (based on 14 day Average True Range), to move between $0.90 and $1.28, which gives a possible trading interval of +/-$0.193 (+/-17.71%) up or down from last closing price. If FibroGen takes out the full calculated possible swing range there will be an estimated 35.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.07 (1.83%) than the resistance at $1.15 (5.50%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.697 Sell Candidate Unchanged
Predicted Opening Price for FibroGen of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
$1.09 ( 0.306%) | $1.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FGEN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.24 | 14.07 % | |
R2 | 1.19 | 8.81 % | ||
R1 | 1.15 | 5.56 % | ||
Current price: | 1.09 | |||
Support | S1 | 1.04 | -4.95 % | |
S2 | 1.00 | -8.20 % | ||
S3 | 0.94 | -13.46 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.30 | 19.27 % | |
R2 | 1.17 | 7.34 % | ||
R1 | 1.15 | 5.50 % | ||
Current price | 1.09 | |||
Support | S1 | 1.07 | -1.83% | |
S2 | 1.02 | -6.42% | ||
S3 | 0.98 | -9.70% |
FAQ
Click here for our free guide on how to buy FibroGen Stock.