Iterum Therapeutics Plc 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
Evaluation of Iterum Therapeutics Plc stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Iterum Therapeutics Plc stock price fell by -3.73% on the last day (Friday, 10th May 2024) from $1.61 to $1.55. During the last trading day the stock fluctuated 6.67% from a day low at $1.50 to a day high of $1.60. The price has fallen in 6 of the last 10 days and is down by -7.19% for this period. Volume has increased on the last day by 50 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, 108 thousand shares were bought and sold for approximately $166.63 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.02% during the next 3 months and, with a 90% probability hold a price between $1.58 and $2.19 at the end of this 3-month period.
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ITRM Signals & Forecast
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. The Iterum Therapeutics Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.58 and $1.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -7.19%. Further fall is indicated until a new bottom pivot has been found. Iterum Therapeutics Plc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Iterum Therapeutics Plc stock
Iterum Therapeutics Plc finds support from accumulated volume at $1.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.100 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 5.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITRM) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Iterum Therapeutics Plc to open at $1.55, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.66, which gives a possible trading interval of +/-$0.112 (+/-7.22%) up or down from last closing price. If Iterum Therapeutics Plc takes out the full calculated possible swing range there will be an estimated 14.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.54 (0.65%) than the resistance at $1.58 (1.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Iterum Therapeutics Plc will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.570. We will update the financials statements for Iterum Therapeutics Plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.43% in the first trading day after earnings release.
Is Iterum Therapeutics Plc stock A Buy?
The Iterum Therapeutics Plc stock holds several negative signals and despite the positive trend, we believe Iterum Therapeutics Plc 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 Sell candidate.
Current score: -3.401 Sell Candidate Downgraded
Predicted Opening Price for Iterum Therapeutics Plc of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $1.55 ( 0%) | $1.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITRM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.65 | 6.45 % | |
| R2 | 1.61 | 3.99 % | ||
| R1 | 1.59 | 2.46 % | ||
| Current price: | 1.55 | |||
| Support | S1 | 1.51 | -2.46 % | |
| S2 | 1.49 | -3.99 % | ||
| S3 | 1.45 | -6.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.87 | 20.65 % | |
| R2 | 1.59 | 2.58 % | ||
| R1 | 1.58 | 1.94 % | ||
| Current price | 1.55 | |||
| Support | S1 | 1.54 | -0.645% | |
| S2 | 1.49 | -3.87% | ||
| S3 | 1.44 | -7.10% |
FAQ
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