Humacyte, Inc. Stock Forecast
Big movements in Humacyte, Inc. stock price on Thursday moving 10.15% between high and low
(Updated on May 16, 2024)
The Humacyte, Inc. stock price fell by -0.773% on the last day (Thursday, 16th May 2024) from $6.47 to $6.42. During the last trading day the stock fluctuated 10.15% from a day low at $6.36 to a day high of $7.00. The price has risen in 8 of the last 10 days and is up by 45.91% 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 -268 thousand shares and in total, 4 million shares were bought and sold for approximately $27.70 million.
The stock lies in the upper part of a very wide and strong rising 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 $6.49 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.05% during the next 3 months and, with a 90% probability hold a price between $3.99 and $7.85 at the end of this 3-month period.
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HUMA Signals & Forecast
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 $5.50 and $3.94. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.773%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Humacyte, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.48 and $4.84. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $4.84 may give a huge drop in the stock price.
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 $0.645 between high and low, or 10.15%. For the last week, the stock has had daily average volatility of 14.46%.
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: $6.20 (-3.49%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 90 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (HUMA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Humacyte, Inc. to open at $6.59, and during the day (based on 14 day Average True Range), to move between $5.97 and $6.87, which gives a possible trading interval of +/-$0.450 (+/-7.01%) up or down from last closing price. If Humacyte, Inc. takes out the full calculated possible swing range there will be an estimated 14.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.47 (0.78%) than the support at $5.48 (14.64%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Humacyte, Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.114 Buy Candidate Downgraded
Predicted Opening Price for Humacyte, Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $6.59 ( 2.67%) | $6.42 |
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 | 7.24 | 12.72 % | |
| R2 | 6.99 | 8.88 % | ||
| R1 | 6.84 | 6.51 % | ||
| Current price: | 6.42 | |||
| Support | S1 | 6.35 | -1.16 % | |
| S2 | 6.19 | -3.53 % | ||
| S3 | 5.95 | -7.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.47 | 0.779 % | ||
| Current price | 6.42 | |||
| Support | S1 | 5.48 | -14.64% | |
| S2 | 4.84 | -24.61% | ||
| S3 | 0 | . |
FAQ
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