Humacyte, Inc. Stock Forecast
Volatile ride for Humacyte, Inc. stock price on Friday moving between $1.02 and $1.35
(Updated on May 17, 2024)
The Humacyte, Inc. stock price fell by -10.00% on the last day (Friday, 17th May 2024) from $1.30 to $1.17. During the last trading day the stock fluctuated 31.86% from a day low at $1.02 to a day high of $1.35. The price has risen in 7 of the last 10 days and is up by 69.54% 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 -1 thousand shares and in total, 17 thousand shares were bought and sold for approximately $19.89 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $1.30 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Humacyte, Inc. stock with a 90% probability to be traded between $0.515 and $1.32 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HUMAW 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 $1.03 and $0.703. 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 Thursday, May 16, 2024, and so far it has fallen -10.00%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Humacyte, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.92 and $0.90. 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 $0.92. If this is broken, then the next support from accumulated volume will be at $0.90 and $0.88.
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 $0.325 between high and low, or 31.86%. For the last week the stock has had daily average volatility of 26.15%.
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: $1.11 (-5.42%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (HUMAW) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Humacyte, Inc. to open at $1.18, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.32, which gives a possible trading interval of +/-$0.153 (+/-13.10%) up or down from last closing price. If Humacyte, Inc. takes out the full calculated possible swing range there will be an estimated 26.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.20 (2.56%) than the support at $0.92 (21.37%), 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 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 period.
Current score: 2.605 Buy Candidate Unchanged
Predicted Opening Price for Humacyte, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $1.18 ( 0.712%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUMAW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.50 | 28.49 % | |
| R2 | 1.38 | 17.88 % | ||
| R1 | 1.30 | 11.32 % | ||
| Current price: | 1.17 | |||
| Support | S1 | 1.05 | -9.90 % | |
| S2 | 0.98 | -16.45 % | ||
| S3 | 0.85 | -27.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.30 | 11.11 % | |
| R2 | 1.22 | 4.27 % | ||
| R1 | 1.20 | 2.56 % | ||
| Current price | 1.17 | |||
| Support | S1 | 0.92 | -21.37% | |
| S2 | 0.90 | -23.09% | ||
| S3 | 0.88 | -24.79% |
FAQ
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