Heron Therapeutics Stock Forecast
A very strong day for Heron Therapeutics stock price on Friday
(Updated on Sep 29, 2023)
The Heron Therapeutics stock price gained 6.19% on the last trading day (Friday, 29th Sep 2023), rising from $0.97 to $1.03. During the last trading day the stock fluctuated 9.38% from a day low at $0.96 to a day high of $1.05. The price has fallen in 8 of the last 10 days and is down by -14.88% for this period. Volume fell on the last day by -592 thousand shares and in total, 911 thousand shares were bought and sold for approximately $937.94 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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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 $0.97 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.64% during the next 3 months and, with a 90% probability hold a price between $0.85 and $1.48 at the end of this 3-month period.
HRTX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, September 28, 2023, and so far it has risen 6.19%. 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 Heron Therapeutics 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 $1.39. On a fall, the stock will find some support from the short-term average at $1.01. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Heron Therapeutics stock
Heron Therapeutics finds support from accumulated volume at $1.01 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 $0.0900 between high and low, or 9.38%. For the last week the stock has had daily average volatility of 6.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HRTX) For The Upcoming Trading Day Of Monday 2nd
For the upcoming trading day on Monday, 2nd we expect Heron Therapeutics to open at $1.01, and during the day (based on 14 day Average True Range), to move between $0.94 and $1.12, which gives a possible trading interval of +/-$0.0927 (+/-9.00%) up or down from last closing price. If Heron Therapeutics takes out the full calculated possible swing range there will be an estimated 17.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.01 (1.94%) than the resistance at $1.16 (12.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Heron Therapeutics stock A Buy?
Heron Therapeutics 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.965 Open Broker Account
Sell Candidate UpgradedPredicted Opening Price for Heron Therapeutics of Monday, October 2, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price October 2, 2023 | Current price |
|---|---|
| $1.01 | $1.03 (Overvalued) |
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Trading levels for HRTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.10 | 7.12 % | |
| R2 | 1.07 | 3.78 % | ||
| R1 | 1.05 | 1.72 % | ||
| Current price: | 1.03 | |||
| Support | S1 | 0.98 | -4.96 % | |
| S2 | 0.96 | -7.02 % | ||
| S3 | 0.92 | -10.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.21 | 17.48 % | |
| R2 | 1.19 | 15.53 % | ||
| R1 | 1.16 | 12.62 % | ||
| Current price | 1.03 | |||
| Support | S1 | 1.01 | -1.94% | |
| S2 | 0.98 | -4.75% | ||
| S3 | 0.97 | -5.83% |
FAQ
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About Heron Therapeutics
Heron Therapeutics, Inc., a biotechnology company, engages in developing treatments to address unmet patient needs. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration. It offers SUSTOL (granisetron), an extended-release injection for the prevention of acut... HRTX Profile
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