Gritstone Oncology Inc. Stock Forecast
Big movements in Gritstone Oncology Inc. stock price on Friday moving 13.18% between high and low
(Updated on May 03, 2024)
The Gritstone Oncology Inc. stock price gained 10.66% on the last trading day (Friday, 3rd May 2024), rising from $0.87 to $0.96. During the last trading day the stock fluctuated 13.18% from a day low at $0.88 to a day high of $1.00. The price has been going up and down for this period, and there has been a 30.7% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $4.03 million.
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 -49.56% during the next 3 months and, with a 90% probability hold a price between $0.213 and $1.00 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 30.70%. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.42. On a fall, the stock will find some support from the short-term average at $0.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Gritstone Oncology Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.84 and $0.772. 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, Gritstone Oncology Inc. finds support just below today's level at $0.84. If this is broken, then the next support from accumulated volume will be at $0.772 and $0.739.
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 $0.116 between high and low, or 13.18%. For the last week, the stock has had daily average volatility of 8.91%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Gritstone Oncology Inc. to open at $0.95, and during the day (based on 14 day Average True Range), to move between $0.84 and $1.09, which gives a possible trading interval of +/-$0.127 (+/-13.22%) up or down from last closing price. If Gritstone Oncology Inc. takes out the full calculated possible swing range there will be an estimated 26.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.97 (0.78%) than the support at $0.84 (12.63%), 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.
Earnings coming up
Gritstone Oncology Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.300. We will update the financials statements for Gritstone Oncology Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.66% in the first trading day after earnings release.
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: -1.163 Sell Candidate Unchanged
Predicted Opening Price for Gritstone Oncology Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.95 ( 1.71%) | $0.96 |
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 | 1.06 | 10.34 % | |
| R2 | 1.02 | 5.74 % | ||
| R1 | 0.99 | 2.89 % | ||
| Current price: | 0.96 | |||
| Support | S1 | 0.90 | -6.31 % | |
| S2 | 0.87 | -9.16 % | ||
| S3 | 0.83 | -13.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 24.65 % | |
| R2 | 1.04 | 7.51 % | ||
| R1 | 0.97 | 0.779 % | ||
| Current price | 0.96 | |||
| Support | S1 | 0.84 | -12.63% | |
| S2 | 0.772 | -19.82% | ||
| S3 | 0.739 | -23.25% |
FAQ
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