IGM Biosciences, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
IGM Biosciences, Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The IGM Biosciences, Inc. stock price fell by -1.00% on the last day (Tuesday, 7th May 2024) from $10.03 to $9.93. During the last trading day the stock fluctuated 4.43% from a day low at $9.83 to a day high of $10.27. The price has fallen in 6 of the last 10 days but is still up by 28.96% over the past 2 weeks. Volume has increased on the last day by 100 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 263 thousand shares were bought and sold for approximately $2.61 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $9.83, a level that may pose a second chance to hit a runner. According to fan-theory $14.22 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IGMS Signals & Forecast
The IGM Biosciences, 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 $9.75 and $8.98. 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 Friday, May 03, 2024, and so far it has fallen -1.39%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for IGM Biosciences, Inc. stock
IGM Biosciences, Inc. finds support from accumulated volume at $9.70 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 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 $0.435 between high and low, or 4.43%. For the last week, the stock has had daily average volatility of 6.22%.
Our recommended stop-loss: $9.61 (-3.20%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (IGMS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect IGM Biosciences, Inc. to open at $10.01, and during the day (based on 14 day Average True Range), to move between $9.05 and $10.81, which gives a possible trading interval of +/-$0.88 (+/-8.83%) up or down from last closing price. If IGM Biosciences, Inc. takes out the full calculated possible swing range there will be an estimated 17.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.95 (0.20%) than the support at $9.70 (2.32%), 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.
Earnings coming up
IGM Biosciences, Inc. will release earnings BMO on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.84. We will update the financials statements for IGM Biosciences, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.00% in the first trading day after earnings release.
Is IGM Biosciences, Inc. stock A Buy?
IGM Biosciences, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.697 Hold/Accumulate Downgraded
Predicted Opening Price for IGM Biosciences, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $10.01 ( 0.789%) | $9.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGMS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.44 | 5.17 % | |
| R2 | 10.28 | 3.50 % | ||
| R1 | 10.17 | 2.46 % | ||
| Current price: | 9.93 | |||
| Support | S1 | 9.84 | -0.88 % | |
| S2 | 9.74 | -1.92 % | ||
| S3 | 9.57 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.64 | 7.15 % | |
| R2 | 10.45 | 5.24 % | ||
| R1 | 9.95 | 0.201 % | ||
| Current price | 9.93 | |||
| Support | S1 | 9.70 | -2.32% | |
| S2 | 8.68 | -12.59% | ||
| S3 | 7.96 | -19.84% |
FAQ
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