Generation Bio Co. Stock Forecast
High volatility in Generation Bio Co. stock price on Tuesday which ended trading at $3.18
(Updated on May 07, 2024)
The Generation Bio Co. stock price fell by -5.07% on the last day (Tuesday, 7th May 2024) from $3.35 to $3.18. During the last trading day the stock fluctuated 11.55% from a day low at $3.17 to a day high of $3.54. The price has been going up and down for this period, and there has been a -2.45% 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 -23 thousand shares and in total, 146 thousand shares were bought and sold for approximately $463.50 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.94 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 38.33% during the next 3 months and, with a 90% probability hold a price between $4.07 and $6.65 at the end of this 3-month period.
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GBIO 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 Generation Bio Co. 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 $3.40. On a fall, the stock will find some support from the short-term average at $3.06. 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. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -26.90%. 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 Generation Bio Co. stock
Generation Bio Co. finds support from accumulated volume at $3.11 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.366 between high and low, or 11.55%. For the last week the stock has had daily average volatility of 9.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GBIO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Generation Bio Co. to open at $3.30, and during the day (based on 14 day Average True Range), to move between $2.88 and $3.48, which gives a possible trading interval of +/-$0.303 (+/-9.54%) up or down from last closing price. If Generation Bio Co. takes out the full calculated possible swing range there will be an estimated 19.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.20 (0.63%) than the support at $3.11 (2.20%), 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.
Earnings coming up
Generation Bio Co. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.360. We will update the financials statements for Generation Bio Co., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.77% in the first trading day after earnings release.
Is Generation Bio Co. stock A Buy?
Generation Bio Co. 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: -2.752 Sell Candidate Unchanged
Predicted Opening Price for Generation Bio Co. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $3.30 ( 3.63%) | $3.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.66 | 15.14 % | |
| R2 | 3.52 | 10.75 % | ||
| R1 | 3.44 | 8.03 % | ||
| Current price: | 3.18 | |||
| Support | S1 | 3.16 | -0.770 % | |
| S2 | 3.07 | -3.49 % | ||
| S3 | 2.93 | -7.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.70 | 16.35 % | |
| R2 | 3.51 | 10.38 % | ||
| R1 | 3.20 | 0.629 % | ||
| Current price | 3.18 | |||
| Support | S1 | 3.11 | -2.20% | |
| S2 | 3.10 | -2.52% | ||
| S3 | 3.09 | -2.83% |
FAQ
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