Monte Rosa Therapeutics, Inc. Stock Forecast
Monte Rosa Therapeutics, Inc. stock price up 2.07% on Thursday
(Updated on Apr 18, 2024)
The Monte Rosa Therapeutics, Inc. stock price gained 2.07% on the last trading day (Thursday, 18th Apr 2024), rising from $5.80 to $5.92. During the last trading day the stock fluctuated 6.85% from a day low at $5.69 to a day high of $6.08. The price has risen in 5 of the last 10 days but is still down by -15.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 71 thousand more shares were traded than the day before. In total, 178 thousand shares were bought and sold for approximately $1.05 million.
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 $5.84 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 35.10% during the next 3 months and, with a 90% probability hold a price between $7.89 and $12.31 at the end of this 3-month period.
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GLUE Signals & Forecast
Monte Rosa Therapeutics, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.56 and $6.73. 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 -30.02%. 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).
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 $5.51. 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 $5.51 and $4.66.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.390 between high and low, or 6.85%. For the last week, the stock has had daily average volatility of 10.48%.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Monte Rosa Therapeutics, Inc. to open at $5.90, and during the day (based on 14 day Average True Range), to move between $5.27 and $6.57, which gives a possible trading interval of +/-$0.651 (+/-10.99%) 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 21.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.53 (6.59%) than the resistance at $6.41 (8.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -3.701 Sell Candidate Unchanged
Predicted Opening Price for Monte Rosa Therapeutics, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.90 ( 0.394%) | $5.92 |
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 | 6.29 | 6.19 % | |
| R2 | 6.14 | 3.68 % | ||
| R1 | 6.05 | 2.12 % | ||
| Current price: | 5.92 | |||
| Support | S1 | 5.75 | -2.91 % | |
| S2 | 5.66 | -4.47 % | ||
| S3 | 5.51 | -6.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.03 | 18.75 % | |
| R2 | 6.59 | 11.32 % | ||
| R1 | 6.41 | 8.28 % | ||
| Current price | 5.92 | |||
| Support | S1 | 5.53 | -6.59% | |
| S2 | 5.51 | -6.93% | ||
| S3 | 4.66 | -21.28% |
FAQ
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