Humacyte, Inc. Stock Forecast
High volatility in Humacyte, Inc. stock price on Wednesday which ended trading at $4.40
(Updated on May 01, 2024)
The Humacyte, Inc. stock price gained 12.24% on the last trading day (Wednesday, 1st May 2024), rising from $3.92 to $4.40. During the last trading day the stock fluctuated 16.16% from a day low at $3.93 to a day high of $4.57. The price has risen in 7 of the last 10 days and is up by 41.03% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $10.36 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $4.48 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.86% during the next 3 months and, with a 90% probability hold a price between $2.54 and $4.09 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HUMA Signals & Forecast
Mostly positive signals in the chart today. The Humacyte, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.01 and $3.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 53.31%. 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.
Support, Risk & Stop-loss for Humacyte, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.70 and $3.59. 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, Humacyte, Inc. finds support just below today's level at $3.70. If this is broken, then the next support from accumulated volume will be at $3.59 and $3.51.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.635 between high and low, or 16.16%. For the last week, the stock has had daily average volatility of 7.85%.
The Humacyte, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $4.25 (-3.38%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (HUMA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Humacyte, Inc. to open at $4.30, and during the day (based on 14 day Average True Range), to move between $4.09 and $4.71, which gives a possible trading interval of +/-$0.310 (+/-7.05%) up or down from last closing price. If Humacyte, Inc. takes out the full calculated possible swing range there will be an estimated 14.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.42 (0.45%) than the support at $3.70 (15.91%), 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.
Is Humacyte, Inc. stock A Buy?
Humacyte, Inc. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Humacyte, Inc. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.762 Strong Buy Candidate Upgraded
Predicted Opening Price for Humacyte, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $4.30 ( 2.31%) | $4.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.93 | 12.12 % | |
| R2 | 4.69 | 6.61 % | ||
| R1 | 4.54 | 3.20 % | ||
| Current price: | 4.40 | |||
| Support | S1 | 4.06 | -7.82 % | |
| S2 | 3.91 | -11.23 % | ||
| S3 | 3.66 | -16.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.84 | 10.00 % | |
| R2 | 4.46 | 1.36 % | ||
| R1 | 4.42 | 0.455 % | ||
| Current price | 4.40 | |||
| Support | S1 | 3.70 | -15.91% | |
| S2 | 3.59 | -18.41% | ||
| S3 | 3.51 | -20.23% |
FAQ
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