Gritstone Oncology Inc. Stock Forecast
Gritstone Oncology Inc. stock price ended at $0.739 on Tuesday, after losing 0.93%.
(Updated on Apr 23, 2024)
The Gritstone Oncology Inc. stock price fell by -0.93% on the last day (Tuesday, 23rd Apr 2024) from $0.746 to $0.739. During the last trading day the stock fluctuated 8.52% from a day low at $0.721 to a day high of $0.782. The price has fallen in 8 of the last 10 days and is down by -24.53% 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 -928 thousand shares and in total, 2 million shares were bought and sold for approximately $1.78 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.683 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -41.74% during the next 3 months and, with a 90% probability hold a price between $0.398 and $1.35 at the end of this 3-month period.
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GRTS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.272%. Further rise is indicated until a new top pivot has been found. 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 Gritstone Oncology 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 $0.746 and $1.78. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Gritstone Oncology Inc. stock
Gritstone Oncology Inc. finds support from accumulated volume at $0.737 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0614 between high and low, or 8.52%. For the last week, the stock has had daily average volatility of 8.57%.
Gritstone Oncology Inc. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRTS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Gritstone Oncology Inc. to open at $0.747, and during the day (based on 14 day Average True Range), to move between $0.570 and $0.91, which gives a possible trading interval of +/-$0.168 (+/-22.80%) up or down from last closing price. If Gritstone Oncology Inc. takes out the full calculated possible swing range there will be an estimated 45.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.739 (0.04%) than the support at $0.737 (0.27%), 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 Gritstone Oncology Inc. stock A Buy?
Gritstone Oncology Inc. 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: -4.457 Sell Candidate Unchanged
Predicted Opening Price for Gritstone Oncology Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.747 ( 1.16%) | $0.739 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRTS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 9.47 % | |
| R2 | 0.785 | 6.29 % | ||
| R1 | 0.771 | 4.33 % | ||
| Current price: | 0.739 | |||
| Support | S1 | 0.724 | -2.02 % | |
| S2 | 0.709 | -3.98 % | ||
| S3 | 0.686 | -7.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 13.88 % | |
| R2 | 0.772 | 4.51 % | ||
| R1 | 0.739 | 0.0406 % | ||
| Current price | 0.739 | |||
| Support | S1 | 0.737 | -0.271% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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