Kazia Therapeutics Limited Stock Forecast
Volatile ride for Kazia Therapeutics Limited stock price on Tuesday moving between $0.365 and $0.410
(Updated on Apr 23, 2024)
The Kazia Therapeutics Limited stock price gained 4.77% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.377 to $0.395. It has now gained 5 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 12.30% from a day low at $0.365 to a day high of $0.410. The price has been going up and down for this period, and there has been a -13.94% loss 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, 17 thousand more shares were traded than the day before. In total, 136 thousand shares were bought and sold for approximately $53.53 thousand.
The stock lies in the middle of a very wide and strong 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 14.54% during the next 3 months and, with a 90% probability hold a price between $0.264 and $0.537 at the end of this 3-month period.
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KZIA Signals & Forecast
The Kazia Therapeutics Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.348 and $0.302. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 35.74%. Further rise is indicated until a new top pivot has been found. Kazia Therapeutics Limited 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kazia Therapeutics Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.370 and $0.315. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kazia Therapeutics Limited finds support just below today's level at $0.370. If this is broken, then the next support from accumulated volume will be at $0.315 and $0.300.
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 $0.0449 between high and low, or 12.30%. For the last week, the stock has had daily average volatility of 18.20%.
Our recommended stop-loss: $0.380 (-3.86%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (KZIA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Kazia Therapeutics Limited to open at $0.390, and during the day (based on 14 day Average True Range), to move between $0.341 and $0.449, which gives a possible trading interval of +/-$0.0538 (+/-13.62%) up or down from last closing price. If Kazia Therapeutics Limited takes out the full calculated possible swing range there will be an estimated 27.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.405 (2.53%) than the support at $0.370 (6.46%), 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 Kazia Therapeutics Limited 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 Kazia Therapeutics Limited stock to perform well in the short-term.
Current score: 3.705 Buy Candidate Unchanged
Predicted Opening Price for Kazia Therapeutics Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.390 ( 1.26%) | $0.395 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KZIA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.435 | 10.11 % | |
| R2 | 0.418 | 5.77 % | ||
| R1 | 0.407 | 3.08 % | ||
| Current price: | 0.395 | |||
| Support | S1 | 0.373 | -5.60 % | |
| S2 | 0.362 | -8.28 % | ||
| S3 | 0.345 | -12.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.459 | 16.20 % | |
| R2 | 0.427 | 8.08 % | ||
| R1 | 0.405 | 2.53 % | ||
| Current price | 0.395 | |||
| Support | S1 | 0.370 | -6.46% | |
| S2 | 0.315 | -20.23% | ||
| S3 | 0.300 | -24.18% |
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