Matinas Biopharma Holdings Inc Stock Forecast
Weaker technical forecast for Matinas Biopharma Holdings Inc as stock downgraded to Strong Sell Candidate.
(Updated on Apr 26, 2024)
The Matinas Biopharma Holdings Inc stock price fell by -1.43% on the last day (Friday, 26th Apr 2024) from $0.182 to $0.179. During the last trading day the stock fluctuated 7.55% from a day low at $0.175 to a day high of $0.188. The price has fallen in 8 of the last 10 days and is down by -11.96% for this period. Volume has increased on the last day by 715 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $249.74 thousand.
Given the current short-term trend, the stock is expected to fall -3.11% during the next 3 months and, with a 90% probability hold a price between $0.173 and $0.355 at the end of this 3-month period.
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MTNB Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Matinas Biopharma Holdings Inc 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 $0.183 and $0.240. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -51.62%. Further fall is indicated until a new bottom pivot has been found. Matinas Biopharma Holdings Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Matinas Biopharma Holdings Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0132 between high and low, or 7.55%. For the last week, the stock has had daily average volatility of 7.27%.
Matinas Biopharma Holdings Inc is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTNB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Matinas Biopharma Holdings Inc to open at $0.181, and during the day (based on 14 day Average True Range), to move between $0.157 and $0.201, which gives a possible trading interval of +/-$0.0220 (+/-12.31%) up or down from last closing price. If Matinas Biopharma Holdings Inc takes out the full calculated possible swing range there will be an estimated 24.61% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.182, some $0.0026 (1.45%) from the current price of $0.179, our system finds the risk reward not very attractive.
Is Matinas Biopharma Holdings Inc stock A Buy?
Matinas Biopharma Holdings Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.746 Strong Sell Candidate Downgraded
Predicted Opening Price for Matinas Biopharma Holdings Inc of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$0.181 ( 0.93%) | $0.179 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTNB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.194 | 8.31 % | |
R2 | 0.189 | 5.49 % | ||
R1 | 0.186 | 3.75 % | ||
Current price: | 0.179 | |||
Support | S1 | 0.176 | -1.89 % | |
S2 | 0.172 | -3.63 % | ||
S3 | 0.167 | -6.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.219 | 22.64 % | |
R2 | 0.209 | 16.83 % | ||
R1 | 0.182 | 1.45 % | ||
Current price | 0.179 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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