Monte Rosa Therapeutics, Inc. Stock Forecast
High volatility in Monte Rosa Therapeutics, Inc. stock price on Tuesday which ended trading at $6.06
(Updated on Apr 16, 2024)
The Monte Rosa Therapeutics, Inc. stock price fell by -7.76% on the last day (Tuesday, 16th Apr 2024) from $6.57 to $6.06. During the last trading day the stock fluctuated 22.69% from a day low at $5.85 to a day high of $7.18. The price has risen in 6 of the last 10 days but is still down by -10.88% for this period. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 125 thousand shares were bought and sold for approximately $758.44 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 $6.05 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 39.74% during the next 3 months and, with a 90% probability hold a price between $8.46 and $12.70 at the end of this 3-month period.
GLUE Signals & Forecast
There are few to no technical positive signals at the moment. The Monte Rosa Therapeutics, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $7.08 and $6.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -28.37%. 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). Monte Rosa Therapeutics, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Monte Rosa Therapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.53 and $5.29. 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, Monte Rosa Therapeutics, Inc. finds support just below today's level at $5.53. If this is broken, then the next support from accumulated volume will be at $5.29 and $4.66.
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 $1.33 between high and low, or 22.69%. For the last week, the stock has had daily average volatility of 11.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLUE) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Monte Rosa Therapeutics, Inc. to open at $6.36, and during the day (based on 14 day Average True Range), to move between $5.37 and $6.75, which gives a possible trading interval of +/-$0.692 (+/-11.42%) up or down from last closing price. If Monte Rosa Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 22.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.41 (5.78%) than the support at $5.53 (8.75%), 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 Monte Rosa Therapeutics, Inc. stock A Buy?
The Monte Rosa Therapeutics, Inc. stock holds several negative signals and despite the positive trend, we believe Monte Rosa Therapeutics, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.526 Sell Candidate Unchanged
Predicted Opening Price for Monte Rosa Therapeutics, Inc. of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
$6.36 ( 5.02%) | $6.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLUE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.69 | 26.93 % | |
R2 | 7.18 | 18.56 % | ||
R1 | 6.87 | 13.39 % | ||
Current price: | 6.06 | |||
Support | S1 | 5.86 | -3.35 % | |
S2 | 5.54 | -8.52 % | ||
S3 | 5.04 | -16.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.03 | 16.01 % | |
R2 | 6.59 | 8.75 % | ||
R1 | 6.41 | 5.78 % | ||
Current price | 6.06 | |||
Support | S1 | 5.53 | -8.75% | |
S2 | 5.29 | -12.71% | ||
S3 | 4.66 | -23.10% |
FAQ
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