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
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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