Harvard Bioscience Stock Forecast
Is Harvard Bioscience stock still a buy after falling -6.80% on Friday?
(Updated on Apr 19, 2024)
The Harvard Bioscience stock price fell by -6.80% on the last day (Friday, 19th Apr 2024) from $3.97 to $3.70. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 8.94% from a day low at $3.69 to a day high of $4.02. The price has fallen in 7 of the last 10 days and is down by -18.14% 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 -37 thousand shares and in total, 85 thousand shares were bought and sold for approximately $313.76 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($3.86) are considered to be a "second chance" to get out. According to the fan-theory $3.16 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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HBIO 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 Harvard Bioscience 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 $4.14 and $4.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -20.09%. Further fall is indicated until a new bottom pivot has been found. 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 Harvard Bioscience 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.330 between high and low, or 8.94%. For the last week the stock has had daily average volatility of 8.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HBIO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Harvard Bioscience to open at $3.80, and during the day (based on 14 day Average True Range), to move between $3.41 and $3.99, which gives a possible trading interval of +/-$0.286 (+/-7.73%) up or down from last closing price. If Harvard Bioscience takes out the full calculated possible swing range there will be an estimated 15.46% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $4.05, some $0.350 (9.46%) from the current price of $3.70, our system finds the risk reward not very attractive.
Earnings coming up
Harvard Bioscience will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0600. We will update the financials statements for Harvard Bioscience, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.68% in the first trading day after earnings release.
Is Harvard Bioscience stock A Buy?
Harvard Bioscience holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -7.518 Strong Sell Candidate Downgraded
Predicted Opening Price for Harvard Bioscience of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $3.80 ( 2.79%) | $3.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.13 | 11.71 % | |
| R2 | 4.01 | 8.30 % | ||
| R1 | 3.93 | 6.20 % | ||
| Current price: | 3.70 | |||
| Support | S1 | 3.68 | -0.614 % | |
| S2 | 3.60 | -2.72 % | ||
| S3 | 3.47 | -6.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.52 | 22.16 % | |
| R2 | 4.15 | 12.16 % | ||
| R1 | 4.05 | 9.46 % | ||
| Current price | 3.70 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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