Seres Therapeutics Stock Forecast
Big movements in Seres Therapeutics stock price on Thursday moving 10.21% between high and low
(Updated on May 02, 2024)
The Seres Therapeutics stock price gained 2.78% on the last trading day (Thursday, 2nd May 2024), rising from $1.08 to $1.11. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 10.21% from a day low at $1.01 to a day high of $1.11. The price has risen in 8 of the last 10 days and is up by 90% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 3 million shares were bought and sold for approximately $3.56 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.
Given the current short-term trend, the stock is expected to fall -28.06% during the next 3 months and, with a 90% probability hold a price between $0.357 and $0.798 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.
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MCRB Signals & Forecast
Mostly positive signals in the chart today. The Seres Therapeutics 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 $0.91 and $0.761. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 98.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Seres Therapeutics stock
Seres Therapeutics finds support from accumulated volume at $1.06 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 $0.103 between high and low, or 10.21%. For the last week, the stock has had daily average volatility of 13.55%.
The Seres Therapeutics stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Seres Therapeutics has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $1.08 (-2.88%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (MCRB) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Seres Therapeutics to open at $1.08, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.20, which gives a possible trading interval of +/-$0.0890 (+/-8.01%) up or down from last closing price. If Seres Therapeutics takes out the full calculated possible swing range there will be an estimated 16.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.12 (0.90%) than the support at $1.06 (4.50%), 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 Seres Therapeutics stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.625 Buy Candidate Downgraded
Predicted Opening Price for Seres Therapeutics of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.08 ( 3.09%) | $1.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCRB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.18 | 6.17 % | |
| R2 | 1.14 | 2.64 % | ||
| R1 | 1.12 | 0.451 % | ||
| Current price: | 1.11 | |||
| Support | S1 | 1.04 | -6.62 % | |
| S2 | 1.01 | -8.81 % | ||
| S3 | 0.97 | -12.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.15 | 3.60 % | |
| R2 | 1.14 | 2.70 % | ||
| R1 | 1.12 | 0.90 % | ||
| Current price | 1.11 | |||
| Support | S1 | 1.06 | -4.50% | |
| S2 | 1.01 | -9.01% | ||
| S3 | 0.99 | -10.76% |
FAQ
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