Galmed Pharmaceuticals Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Wednesday for Galmed Pharmaceuticals Ltd.
(Updated on Apr 17, 2024)
The Galmed Pharmaceuticals Ltd. stock price gained 3.98% on the last trading day (Wednesday, 17th Apr 2024), rising from $0.354 to $0.368. During the last trading day the stock fluctuated 9.84% from a day low at $0.335 to a day high of $0.368. The price has risen in 6 of the last 10 days and is up by 12.63% over the past 2 weeks. Volume fell on the last day by -53 thousand shares and in total, 44 thousand shares were bought and sold for approximately $16.22 thousand. 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 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 -5.15% during the next 3 months and, with a 90% probability hold a price between $0.282 and $0.396 at the end of this 3-month period.
GLMD Signals & Forecast
The Galmed Pharmaceuticals Ltd. 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 $0.389. On a fall, the stock will find some support from the long-term average at approximately $0.357. 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. 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 -12.18%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Galmed Pharmaceuticals Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.339 and $0.311. 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, Galmed Pharmaceuticals Ltd. finds support just below today's level at $0.339. If this is broken, then the next support from accumulated volume will be at $0.311 and $0.305.
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 $0.0330 between high and low, or 9.84%. For the last week the stock has had daily average volatility of 11.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLMD) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Galmed Pharmaceuticals Ltd. to open at $0.357, and during the day (based on 14 day Average True Range), to move between $0.330 and $0.407, which gives a possible trading interval of +/-$0.0383 (+/-10.39%) up or down from last closing price. If Galmed Pharmaceuticals Ltd. takes out the full calculated possible swing range there will be an estimated 20.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.380 (3.15%) than the support at $0.339 (7.95%), 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 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: -1.488 Sell Candidate Unchanged
Predicted Opening Price for Galmed Pharmaceuticals Ltd. of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$0.357 ( 2.99%) | $0.368 |
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 | 0.390 | 5.97 % | |
R2 | 0.378 | 2.55 % | ||
R1 | 0.370 | 0.436 % | ||
Current price: | 0.368 | |||
Support | S1 | 0.345 | -6.41 % | |
S2 | 0.337 | -8.52 % | ||
S3 | 0.324 | -11.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.396 | 7.46 % | |
R2 | 0.389 | 5.51 % | ||
R1 | 0.380 | 3.15 % | ||
Current price | 0.368 | |||
Support | S1 | 0.339 | -7.95% | |
S2 | 0.311 | -15.66% | ||
S3 | 0.305 | -17.18% |
FAQ
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