NuCana plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for NuCana plc stock after gaining 0.88%
(Updated on May 03, 2024)
The NuCana plc stock price gained 0.88% on the last trading day (Friday, 3rd May 2024), rising from $3.97 to $4.00. During the last trading day the stock fluctuated 7.40% from a day low at $3.89 to a day high of $4.18. The price has risen in 5 of the last 10 days and is up by 5.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $114.30 thousand.
The stock lies in the upper part of a very wide and strong rising 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 $4.24 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 626.73% during the next 3 months and, with a 90% probability hold a price between $7.29 and $30.78 at the end of this 3-month period.
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NCNA Signals & Forecast
The NuCana plc 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 $3.96 and $1.73. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). NuCana plc 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for NuCana plc stock
NuCana plc finds support from accumulated volume at $3.97 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 $0.288 between high and low, or 7.40%. For the last week, the stock has had daily average volatility of 5.89%.
The NuCana plc 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. 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.
Our recommended stop-loss: $3.87 (-3.18%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 91 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (NCNA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect NuCana plc to open at $4.02, and during the day (based on 14 day Average True Range), to move between $3.66 and $4.34, which gives a possible trading interval of +/-$0.340 (+/-8.51%) up or down from last closing price. If NuCana plc takes out the full calculated possible swing range there will be an estimated 17.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.97, some $0.0300 (0.75%) from the current price of $4.00, our system finds the risk reward attractive.
Is NuCana plc 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 NuCana plc stock to perform well in the short-term.
Current score: 4.370 Buy Candidate Unchanged
Predicted Opening Price for NuCana plc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $4.02 ( 0.567%) | $4.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.31 | 7.77 % | |
| R2 | 4.20 | 5.02 % | ||
| R1 | 4.13 | 3.32 % | ||
| Current price: | 4.00 | |||
| Support | S1 | 3.91 | -2.18 % | |
| S2 | 3.84 | -3.88 % | ||
| S3 | 3.73 | -6.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.00 | |||
| Support | S1 | 3.97 | -0.750% | |
| S2 | 3.90 | -2.50% | ||
| S3 | 3.79 | -5.25% |
FAQ
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