Galmed Pharmaceuticals Ltd. Stock Forecast
Evaluation of Galmed Pharmaceuticals Ltd. stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Galmed Pharmaceuticals Ltd. stock price fell by -1.88% on the last day (Thursday, 25th Apr 2024) from $0.400 to $0.393. During the last trading day the stock fluctuated 9.69% from a day low at $0.360 to a day high of $0.395. The price has fallen in 7 of the last 10 days and is down by -6.44% for this period. 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 -18 thousand shares and in total, 33 thousand shares were bought and sold for approximately $13.12 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.31% during the next 3 months and, with a 90% probability hold a price between $0.289 and $0.403 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.
GLMD Signals & Forecast
The Galmed Pharmaceuticals Ltd. 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 $0.377 and $0.354. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -6.44%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Galmed Pharmaceuticals Ltd. stock
Galmed Pharmaceuticals Ltd. finds support from accumulated volume at $0.380 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0349 between high and low, or 9.69%. For the last week the stock has had daily average volatility of 6.88%.
Our recommended stop-loss: $0.373 (-5.07%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (GLMD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Galmed Pharmaceuticals Ltd. to open at $0.382, and during the day (based on 14 day Average True Range), to move between $0.359 and $0.426, which gives a possible trading interval of +/-$0.0336 (+/-8.56%) up or down from last closing price. If Galmed Pharmaceuticals Ltd. takes out the full calculated possible swing range there will be an estimated 17.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.396 (0.87%) than the support at $0.380 (3.18%), 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 Galmed Pharmaceuticals Ltd. stock A Buy?
Galmed Pharmaceuticals Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.577 Hold/Accumulate Downgraded
Predicted Opening Price for Galmed Pharmaceuticals Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.382 ( 2.56%) | $0.393 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.417 | 6.34 % | |
| R2 | 0.404 | 2.94 % | ||
| R1 | 0.396 | 0.84 % | ||
| Current price: | 0.393 | |||
| Support | S1 | 0.369 | -5.95 % | |
| S2 | 0.361 | -8.05 % | ||
| S3 | 0.348 | -11.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.410 | 4.46 % | |
| R2 | 0.400 | 1.91 % | ||
| R1 | 0.396 | 0.87 % | ||
| Current price | 0.393 | |||
| Support | S1 | 0.380 | -3.18% | |
| S2 | 0.339 | -13.61% | ||
| S3 | 0.305 | -22.27% |
FAQ
Click here for our free guide on how to buy Galmed Pharmaceuticals Ltd. Stock.
