Kala Pharmaceuticals Inc Stock Forecast
Red day on Tuesday for Kala Pharmaceuticals Inc stock after losing 2.61%
(Updated on Jul 02, 2024)
The Kala Pharmaceuticals Inc stock price fell by -2.61% on the last day (Tuesday, 2nd Jul 2024) from $6.89 to $6.71. During the last trading day the stock fluctuated 9.90% from a day low at $6.52 to a day high of $7.17. The price has fallen in 6 of the last 10 days but is still up by 16.7% over the past 2 weeks. 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 -212 thousand shares and in total, 118 thousand shares were bought and sold for approximately $791.14 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.04 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.54% during the next 3 months and, with a 90% probability hold a price between $3.71 and $5.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KALA Signals & Forecast
The Kala Pharmaceuticals Inc 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 $5.90 and $6.27. 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, June 28, 2024, and so far it has fallen -5.36%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Kala Pharmaceuticals Inc stock
Kala Pharmaceuticals Inc finds support from accumulated volume at $6.50 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.645 between high and low, or 9.90%. For the last week the stock has had daily average volatility of 15.76%.
Our recommended stop-loss: $6.33 (-5.62%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (KALA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Kala Pharmaceuticals Inc to open at $6.80, and during the day (based on 14 day Average True Range), to move between $6.09 and $7.33, which gives a possible trading interval of +/-$0.623 (+/-9.29%) up or down from last closing price. If Kala Pharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 18.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.72 (0.15%) than the support at $6.50 (3.13%), 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 Kala Pharmaceuticals Inc stock A Buy?
Kala Pharmaceuticals 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.
Current score: 0.323 Hold/Accumulate Unchanged
Predicted Opening Price for Kala Pharmaceuticals Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $6.80 ( 1.32%) | $6.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KALA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.44 | 10.93% |
| R2 | 7.20 | 7.26% |
| R1 | 7.04 | 4.99% |
| Price | 6.71 | |
| S1 | 6.55 | -2.36% |
| S2 | 6.40 | -4.62% |
| S3 | 6.15 | -8.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.09 | 5.66% |
| R2 | 6.89 | 2.68% |
| R1 | 6.72 | 0.149% |
| Price | 6.71 | |
| S1 | 6.50 | -3.13% |
| S2 | 6.45 | -3.87% |
| S3 | 6.45 | -3.88% |
FAQ
Click here for our free guide on how to buy Kala Pharmaceuticals Inc Stock.
