23andMe Holding Co. Stock Forecast
23andMe Holding Co. stock price down 1.73% on Thursday
(Updated on Apr 25, 2024)
The 23andMe Holding Co. stock price fell by -1.73% on the last day (Thursday, 25th Apr 2024) from $0.467 to $0.459. During the last trading day the stock fluctuated 7.13% from a day low at $0.450 to a day high of $0.482. The price has fallen in 8 of the last 10 days and is down by -0.56% 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 -583 thousand shares and in total, 2 million shares were bought and sold for approximately $1.07 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.478 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -41.91% during the next 3 months and, with a 90% probability hold a price between $0.159 and $0.278 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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ME Signals & Forecast
There are few to no technical positive signals at the moment. The 23andMe Holding Co. 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 $0.461 and $0.475. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -9.20%. 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 23andMe Holding Co. stock
23andMe Holding Co. finds support from accumulated volume at $0.451 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0321 between high and low, or 7.13%. For the last week the stock has had daily average volatility of 14.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ME) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect 23andMe Holding Co. to open at $0.464, and during the day (based on 14 day Average True Range), to move between $0.396 and $0.522, which gives a possible trading interval of +/-$0.0627 (+/-13.67%) up or down from last closing price. If 23andMe Holding Co. takes out the full calculated possible swing range there will be an estimated 27.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.451 (1.74%) than the resistance at $0.471 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 23andMe Holding Co. stock A Buy?
23andMe Holding Co. 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.
Current score: -1.570 Sell Candidate Unchanged
Predicted Opening Price for 23andMe Holding Co. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.464 ( 1.04%) | $0.459 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ME
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.496 | 8.03 % | |
| R2 | 0.484 | 5.36 % | ||
| R1 | 0.476 | 3.71 % | ||
| Current price: | 0.459 | |||
| Support | S1 | 0.452 | -1.63 % | |
| S2 | 0.444 | -3.28 % | ||
| S3 | 0.432 | -5.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.506 | 10.13 % | |
| R2 | 0.483 | 5.21 % | ||
| R1 | 0.471 | 2.61 % | ||
| Current price | 0.459 | |||
| Support | S1 | 0.451 | -1.74% | |
| S2 | 0.448 | -2.37% | ||
| S3 | 0.444 | -3.31% |
FAQ
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