Galera Therapeutics, Inc. Stock Forecast
Volatile ride for Galera Therapeutics, Inc. stock price on Thursday moving between $0.172 and $0.214
(Updated on Apr 18, 2024)
The Galera Therapeutics, Inc. stock price fell by -6.25% on the last day (Thursday, 18th Apr 2024) from $0.198 to $0.186. During the last trading day the stock fluctuated 24.78% from a day low at $0.172 to a day high of $0.214. The price has fallen in 5 of the last 10 days but is still up by 14.81% over the past 2 weeks. 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 -14 million shares and in total, 4 million shares were bought and sold for approximately $699.89 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Galera Therapeutics, Inc. stock with a 90% probability to be traded between $0.139 and $0.263 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GRTX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 32.86%. 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 Galera Therapeutics, 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 $0.198. On a fall, the stock will find some support from the short-term average at $0.169. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Galera Therapeutics, Inc. stock
Galera Therapeutics, Inc. finds support from accumulated volume at $0.184 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0425 between high and low, or 24.78%. For the last week the stock has had daily average volatility of 17.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRTX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Galera Therapeutics, Inc. to open at $0.191, and during the day (based on 14 day Average True Range), to move between $0.161 and $0.211, which gives a possible trading interval of +/-$0.0251 (+/-13.49%) up or down from last closing price. If Galera Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 26.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.184 (1.08%) than the resistance at $0.192 (3.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Galera Therapeutics, Inc. stock A Buy?
Galera Therapeutics, 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: -3.310 Sell Candidate Unchanged
Predicted Opening Price for Galera Therapeutics, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.191 ( 2.42%) | $0.186 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.233 | 25.27 % | |
| R2 | 0.217 | 16.54 % | ||
| R1 | 0.207 | 11.15 % | ||
| Current price: | 0.186 | |||
| Support | S1 | 0.174 | -6.31 % | |
| S2 | 0.164 | -11.70 % | ||
| S3 | 0.148 | -20.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.218 | 16.99 % | |
| R2 | 0.198 | 6.67 % | ||
| R1 | 0.192 | 3.23 % | ||
| Current price | 0.186 | |||
| Support | S1 | 0.184 | -1.08% | |
| S2 | 0.166 | -10.65% | ||
| S3 | 0.140 | -24.73% |
FAQ
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