Kazia Therapeutics Limited Stock Forecast
Volatile ride for Kazia Therapeutics Limited stock price on Friday moving between $0.270 and $0.310
(Updated on May 03, 2024)
The Kazia Therapeutics Limited stock price fell by -3.72% on the last day (Friday, 3rd May 2024) from $0.283 to $0.272. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 14.81% from a day low at $0.270 to a day high of $0.310. The price has fallen in 7 of the last 10 days and is down by -27.66% for this period. 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 -24 thousand shares and in total, 389 thousand shares were bought and sold for approximately $105.81 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.262 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 25.31% during the next 3 months and, with a 90% probability hold a price between $0.328 and $0.611 at the end of this 3-month period.
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KZIA Signals & Forecast
There are few to no technical positive signals at the moment. The Kazia Therapeutics Limited 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 $0.326 and $0.329. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -40.74%. 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 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 Kazia Therapeutics Limited stock
Kazia Therapeutics Limited finds support from accumulated volume at $0.264 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 $0.0400 between high and low, or 14.81%. For the last week the stock has had daily average volatility of 13.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KZIA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Kazia Therapeutics Limited to open at $0.284, and during the day (based on 14 day Average True Range), to move between $0.224 and $0.320, which gives a possible trading interval of +/-$0.0480 (+/-17.63%) up or down from last closing price. If Kazia Therapeutics Limited takes out the full calculated possible swing range there will be an estimated 35.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.279 (2.57%) than the support at $0.264 (2.87%), 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?
The Kazia Therapeutics Limited stock holds several negative signals and despite the positive trend, we believe Kazia Therapeutics Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.273 Sell Candidate Upgraded
Predicted Opening Price for Kazia Therapeutics Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.284 ( 4.41%) | $0.272 |
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 | 0.324 | 19.12 % | |
| R2 | 0.309 | 13.50 % | ||
| R1 | 0.299 | 10.03 % | ||
| Current price: | 0.272 | |||
| Support | S1 | 0.269 | -1.21 % | |
| S2 | 0.259 | -4.68 % | ||
| S3 | 0.244 | -10.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.315 | 15.85 % | |
| R2 | 0.300 | 10.11 % | ||
| R1 | 0.279 | 2.57 % | ||
| Current price | 0.272 | |||
| Support | S1 | 0.264 | -2.87% | |
| S2 | 0.254 | -6.54% | ||
| S3 | 0.216 | -20.63% |
FAQ
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