Gossamer Bio Inc. Stock Forecast
Red day on Friday for Gossamer Bio Inc. stock after losing 2.65%
(Updated on May 24, 2024)
The Gossamer Bio Inc. stock price fell by -2.65% on the last day (Friday, 24th May 2024) from $0.637 to $0.620. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 8.12% from a day low at $0.601 to a day high of $0.650. The price has fallen in 8 of the last 10 days and is down by -16.49% for this period. Volume has increased on the last day by 324 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, 1 million shares were bought and sold for approximately $833.29 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.666 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -58.77% during the next 3 months and, with a 90% probability hold a price between $0.122 and $0.275 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GOSS Signals & Forecast
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. The Gossamer Bio 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 $0.668 and $0.766. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -58.95%. Further fall is indicated until a new bottom pivot has been found. Gossamer Bio 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 Gossamer Bio Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0488 between high and low, or 8.12%. For the last week, the stock has had daily average volatility of 7.74%.
Gossamer Bio Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GOSS) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Gossamer Bio Inc. to open at $0.624, and during the day (based on 14 day Average True Range), to move between $0.559 and $0.681, which gives a possible trading interval of +/-$0.0613 (+/-9.89%) up or down from last closing price. If Gossamer Bio Inc. takes out the full calculated possible swing range there will be an estimated 19.78% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.670, some $0.0501 (8.08%) from the current price of $0.620, our system finds the risk reward not very attractive.
Is Gossamer Bio Inc. stock A Buy?
Gossamer Bio Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.734 Strong Sell Candidate Unchanged
Predicted Opening Price for Gossamer Bio Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $0.624 ( 0.591%) | $0.620 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOSS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.672 | 8.46 % | |
| R2 | 0.654 | 5.46 % | ||
| R1 | 0.642 | 3.60 % | ||
| Current price: | 0.620 | |||
| Support | S1 | 0.605 | -2.42 % | |
| S2 | 0.593 | -4.27 % | ||
| S3 | 0.575 | -7.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.755 | 21.86 % | |
| R2 | 0.740 | 19.37 % | ||
| R1 | 0.670 | 8.08 % | ||
| Current price | 0.620 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Gossamer Bio Inc. Stock.
