Kodiak Sciences Inc. Stock Forecast
Kodiak Sciences Inc. stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Kodiak Sciences Inc. stock price gained 1.89% on the last trading day (Friday, 3rd May 2024), rising from $3.70 to $3.77. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.85% from a day low at $3.73 to a day high of $4.06. The price has risen in 7 of the last 10 days and is up by 12.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 thousand more shares were traded than the day before. In total, 304 thousand shares were bought and sold for approximately $1.15 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -26.00% during the next 3 months and, with a 90% probability hold a price between $1.41 and $4.81 at the end of this 3-month period.
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KOD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Kodiak Sciences Inc. 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. The Kodiak Sciences Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.47. On a fall, the stock will find some support from the short-term average at $3.44. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -49.40%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Kodiak Sciences Inc. stock
Kodiak Sciences Inc. finds support from accumulated volume at $3.60 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.330 between high and low, or 8.85%. For the last week, the stock has had daily average volatility of 7.63%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Kodiak Sciences Inc. to open at $3.85, and during the day (based on 14 day Average True Range), to move between $3.42 and $4.12, which gives a possible trading interval of +/-$0.348 (+/-9.23%) up or down from last closing price. If Kodiak Sciences Inc. takes out the full calculated possible swing range there will be an estimated 18.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.60 (4.51%) than the resistance at $4.27 (13.26%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.240 Sell Candidate Upgraded
Predicted Opening Price for Kodiak Sciences Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.85 ( 2.21%) | $3.77 |
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 | 4.18 | 10.96 % | |
| R2 | 4.06 | 7.62 % | ||
| R1 | 3.98 | 5.55 % | ||
| Current price: | 3.77 | |||
| Support | S1 | 3.73 | -1.13 % | |
| S2 | 3.65 | -3.20 % | ||
| S3 | 3.52 | -6.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.45 | 18.04 % | |
| R2 | 4.33 | 14.85 % | ||
| R1 | 4.27 | 13.26 % | ||
| Current price | 3.77 | |||
| Support | S1 | 3.60 | -4.51% | |
| S2 | 3.47 | -7.96% | ||
| S3 | 3.36 | -10.88% |
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