Kodiak Sciences Inc. Stock Forecast
Weaker technical forecast for Kodiak Sciences Inc. as stock downgraded to Strong Sell Candidate.
(Updated on Apr 22, 2024)
The Kodiak Sciences Inc. stock price gained 1.79% on the last trading day (Monday, 22nd Apr 2024), rising from $3.36 to $3.42. During the last trading day the stock fluctuated 6.61% from a day low at $3.29 to a day high of $3.51. The price has fallen in 6 of the last 10 days and is down by -20.28% for this period. Volume fell on the last day by -299 thousand shares and in total, 298 thousand shares were bought and sold for approximately $1.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.26 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.49% during the next 3 months and, with a 90% probability hold a price between $3.12 and $7.03 at the end of this 3-month period.
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KOD Signals & Forecast
There are few to no technical positive signals at the moment. The Kodiak Sciences Inc. 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 $3.72 and $5.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -54.09%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Kodiak Sciences Inc. stock
Kodiak Sciences Inc. finds support from accumulated volume at $3.36 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 $0.218 between high and low, or 6.61%. For the last week the stock has had daily average volatility of 7.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KOD) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Kodiak Sciences Inc. to open at $3.41, and during the day (based on 14 day Average True Range), to move between $2.98 and $3.86, which gives a possible trading interval of +/-$0.438 (+/-12.79%) up or down from last closing price. If Kodiak Sciences Inc. takes out the full calculated possible swing range there will be an estimated 25.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.36 (1.75%) than the resistance at $4.03 (17.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kodiak Sciences Inc. stock A Buy?
Kodiak Sciences Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.
Current score: -6.344 Strong Sell Candidate Downgraded
Predicted Opening Price for Kodiak Sciences Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $3.41 ( 0.413%) | $3.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.62 | 5.95 % | |
| R2 | 3.54 | 3.52 % | ||
| R1 | 3.49 | 2.02 % | ||
| Current price: | 3.42 | |||
| Support | S1 | 3.32 | -2.84 % | |
| S2 | 3.27 | -4.35 % | ||
| S3 | 3.19 | -6.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.27 | 24.85 % | |
| R2 | 4.19 | 22.51 % | ||
| R1 | 4.03 | 17.84 % | ||
| Current price | 3.42 | |||
| Support | S1 | 3.36 | -1.75% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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