Guardant Health Inc. Stock Forecast
Guardant Health Inc. stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Guardant Health Inc. stock price gained 2.16% on the last trading day (Tuesday, 2nd Jul 2024), rising from $28.26 to $28.87. During the last trading day the stock fluctuated 3.32% from a day low at $28.00 to a day high of $28.93. The price has fallen in 7 of the last 10 days and is down by -5.34% for this period. Volume fell on the last day by -428 thousand shares and in total, 690 thousand shares were bought and sold for approximately $19.92 million. 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 lower part of a 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 $28.33 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 85.40% during the next 3 months and, with a 90% probability hold a price between $52.52 and $65.34 at the end of this 3-month period.
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GH Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -9.33%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Guardant Health Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $29.00. On a fall, the stock will find some support from the long-term average at approximately $27.79. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Guardant Health Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $25.52 and $24.00. 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, Guardant Health Inc. finds support just below today's level at $25.52. If this is broken, then the next support from accumulated volume will be at $24.00 and $22.37.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.93 between high and low, or 3.32%. For the last week, the stock has had daily average volatility of 4.49%.
Our recommended stop-loss: $27.41 (-5.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (GH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Guardant Health Inc. to open at $28.60, and during the day (based on 14 day Average True Range), to move between $27.47 and $30.27, which gives a possible trading interval of +/-$1.40 (+/-4.85%) up or down from last closing price. If Guardant Health Inc. takes out the full calculated possible swing range there will be an estimated 9.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.56 (2.39%) than the support at $25.52 (11.60%), 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 Guardant Health Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.496 Buy Candidate Upgraded
Predicted Opening Price for Guardant Health Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $28.60 ( 0.94%) | $28.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.53 | 2.29% |
| R2 | 29.17 | 1.06% |
| R1 | 28.96 | 0.295% |
| Price | 28.87 | |
| S1 | 28.24 | -2.17% |
| S2 | 28.03 | -2.93% |
| S3 | 27.67 | -4.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.19 | 8.04% |
| R2 | 30.50 | 5.65% |
| R1 | 29.56 | 2.39% |
| Price | 28.87 | |
| S1 | 25.52 | -11.60% |
| S2 | 24.00 | -16.87% |
| S3 | 22.37 | -22.51% |
FAQ
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