Iterum Therapeutics Plc Stock Forecast
Volatile ride for Iterum Therapeutics Plc stock price on Wednesday moving between $1.45 and $1.62
(Updated on May 01, 2024)
The Iterum Therapeutics Plc stock price gained 3.92% on the last trading day (Wednesday, 1st May 2024), rising from $1.53 to $1.59. During the last trading day the stock fluctuated 11.72% from a day low at $1.45 to a day high of $1.62. The price has been going up and down for this period, and there has been a 8.9% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 81 thousand more shares were traded than the day before. In total, 238 thousand shares were bought and sold for approximately $377.97 thousand.
The stock lies in the middle of a very wide and weak 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 8.91% during the next 3 months and, with a 90% probability hold a price between $1.47 and $2.09 at the end of this 3-month period.
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ITRM Signals & Forecast
The Iterum Therapeutics Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.58 and $1.58. A breakdown below any of these levels will issue sell signals. Iterum Therapeutics Plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, April 26, 2024, and so far it has fallen -4.79%. 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).
Support, Risk & Stop-loss for Iterum Therapeutics Plc stock
Iterum Therapeutics Plc finds support from accumulated volume at $1.58 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 11.72%. For the last week, the stock has had daily average volatility of 11.09%.
Our recommended stop-loss: $1.50 (-5.69%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ITRM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Iterum Therapeutics Plc to open at $1.55, and during the day (based on 14 day Average True Range), to move between $1.46 and $1.72, which gives a possible trading interval of +/-$0.128 (+/-8.03%) up or down from last closing price. If Iterum Therapeutics Plc takes out the full calculated possible swing range there will be an estimated 16.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.58 (0.63%) than the resistance at $1.62 (1.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Iterum Therapeutics Plc 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 Iterum Therapeutics Plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 1.789 Buy Candidate Upgraded
Predicted Opening Price for Iterum Therapeutics Plc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$1.55 ( 2.31%) | $1.59 |
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 | 1.72 | 8.39 % | |
R2 | 1.66 | 4.30 % | ||
R1 | 1.62 | 1.78 % | ||
Current price: | 1.59 | |||
Support | S1 | 1.49 | -6.39 % | |
S2 | 1.45 | -8.91 % | ||
S3 | 1.38 | -13.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.87 | 17.61 % | |
R2 | 1.65 | 3.77 % | ||
R1 | 1.62 | 1.89 % | ||
Current price | 1.59 | |||
Support | S1 | 1.58 | -0.629% | |
S2 | 1.57 | -1.26% | ||
S3 | 1.49 | -6.29% |
FAQ
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