GT Biopharma, Inc. Stock Forecast
Big movements in GT Biopharma, Inc. stock price on Friday moving 12.06% between high and low
(Updated on Apr 26, 2024)
The GT Biopharma, Inc. stock price fell by -10.84% on the last day (Friday, 26th Apr 2024) from $3.75 to $3.35. During the last trading day the stock fluctuated 12.06% from a day low at $3.21 to a day high of $3.60. The price has fallen in 6 of the last 10 days and is down by -14.23% for this period. Volume has increased on the last day by 7 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, 10 thousand shares were bought and sold for approximately $34.53 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.31% during the next 3 months and, with a 90% probability hold a price between $1.60 and $7.18 at the end of this 3-month period.
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GTBP Signals & Forecast
There are few to no technical positive signals at the moment. The GT Biopharma, 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 $3.67 and $4.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -34.79%. 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). GT Biopharma, 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for GT Biopharma, 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 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 $0.388 between high and low, or 12.06%. For the last week, the stock has had daily average volatility of 5.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTBP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect GT Biopharma, Inc. to open at $3.39, and during the day (based on 14 day Average True Range), to move between $3.03 and $3.66, which gives a possible trading interval of +/-$0.318 (+/-9.50%) up or down from last closing price. If GT Biopharma, Inc. takes out the full calculated possible swing range there will be an estimated 19.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.76, some $0.410 (12.26%) from the current price of $3.35, our system finds the risk reward not very attractive.
Is GT Biopharma, Inc. stock A Buy?
The GT Biopharma, Inc. stock holds several negative signals and despite the positive trend, we believe GT Biopharma, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.159 Sell Candidate Downgraded
Predicted Opening Price for GT Biopharma, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.39 ( 1.22%) | $3.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.77 | 12.81 % | |
| R2 | 3.63 | 8.38 % | ||
| R1 | 3.53 | 5.65 % | ||
| Current price: | 3.35 | |||
| Support | S1 | 3.24 | -3.20 % | |
| S2 | 3.15 | -5.94 % | ||
| S3 | 3.00 | -10.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.15 | 24.07 % | |
| R2 | 4.08 | 21.97 % | ||
| R1 | 3.76 | 12.26 % | ||
| Current price | 3.35 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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