Indaptus Therapeutics, Inc. Stock Forecast
A very red day for Indaptus Therapeutics, Inc. stock price after a -7.23% fall in the Thursday trading session
(Updated on Apr 25, 2024)
The Indaptus Therapeutics, Inc. stock price fell by -7.23% on the last day (Thursday, 25th Apr 2024) from $2.35 to $2.18. During the last trading day the stock fluctuated 5.96% from a day low at $2.18 to a day high of $2.31. The price has fallen in 6 of the last 10 days and is down by -20.73% for this period. 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 -20 thousand shares and in total, 29 thousand shares were bought and sold for approximately $63.48 thousand.
Given the current short-term trend, the stock is expected to rise 49.10% during the next 3 months and, with a 90% probability hold a price between $3.25 and $4.70 at the end of this 3-month period.
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INDP Signals & Forecast
There are few to no technical positive signals at the moment. The Indaptus Therapeutics, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.43 and $2.33. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -22.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Indaptus Therapeutics, Inc. stock
Indaptus Therapeutics, Inc. finds support from accumulated volume at $2.15 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 5.96%. For the last week the stock has had daily average volatility of 8.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INDP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Indaptus Therapeutics, Inc. to open at $2.22, and during the day (based on 14 day Average True Range), to move between $1.94 and $2.42, which gives a possible trading interval of +/-$0.243 (+/-11.14%) up or down from last closing price. If Indaptus Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 22.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.19 (0.46%) than the support at $2.15 (1.38%), 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 Indaptus Therapeutics, Inc. stock A Buy?
The Indaptus Therapeutics, Inc. stock holds several negative signals and despite the positive trend, we believe Indaptus Therapeutics, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.148 Strong Sell Candidate Downgraded
Predicted Opening Price for Indaptus Therapeutics, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.22 ( 1.99%) | $2.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.35 | 7.95 % | |
| R2 | 2.30 | 5.67 % | ||
| R1 | 2.27 | 4.27 % | ||
| Current price: | 2.18 | |||
| Support | S1 | 2.17 | -0.290 % | |
| S2 | 2.14 | -1.70 % | ||
| S3 | 2.09 | -3.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.36 | 8.26 % | |
| R2 | 2.20 | 0.92 % | ||
| R1 | 2.19 | 0.459 % | ||
| Current price | 2.18 | |||
| Support | S1 | 2.15 | -1.38% | |
| S2 | 1.95 | -10.55% | ||
| S3 | 1.91 | -12.39% |
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