Neurogene Inc. Stock Forecast
Volatile ride for Neurogene Inc. stock price on Tuesday moving between $38.22 and $42.45
(Updated on Jul 02, 2024)
The Neurogene Inc. stock price fell by -5.32% on the last day (Tuesday, 2nd Jul 2024) from $40.62 to $38.46. During the last trading day the stock fluctuated 11.06% from a day low at $38.22 to a day high of $42.45. The price has risen in 6 of the last 10 days but is still down by -3.85% for this period. Volume has increased on the last day by 136 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, 300 thousand shares were bought and sold for approximately $11.53 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.66% during the next 3 months and, with a 90% probability hold a price between $28.24 and $41.26 at the end of this 3-month period.
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NGNE Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -5.32%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Neurogene Inc. 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 $35.02 and $34.95. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Neurogene Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $36.39 and $31.07. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Neurogene Inc. finds support just below today's level at $36.39. If this is broken, then the next support from accumulated volume will be at $31.07 and $30.32.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $4.23 between high and low, or 11.06%. For the last week, the stock has had daily average volatility of 11.31%.
Our recommended stop-loss: $36.87 (-4.13%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (NGNE) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Neurogene Inc. to open at $39.71, and during the day (based on 14 day Average True Range), to move between $34.98 and $41.94, which gives a possible trading interval of +/-$3.48 (+/-9.04%) up or down from last closing price. If Neurogene Inc. takes out the full calculated possible swing range there will be an estimated 18.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.39 (5.38%) than the resistance at $40.62 (5.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Neurogene Inc. stock A Buy?
Neurogene Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.142 Hold/Accumulate Downgraded
Predicted Opening Price for Neurogene Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$39.71 ( 3.25%) | $38.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGNE
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 43.94 | 14.24% |
R2 | 42.32 | 10.04% |
R1 | 41.33 | 7.45% |
Price | 38.46 | |
S1 | 38.10 | -0.94% |
S2 | 37.10 | -3.54% |
S3 | 35.48 | -7.74% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 42.64 | 10.87% |
R2 | 41.99 | 9.18% |
R1 | 40.62 | 5.62% |
Price | 38.46 | |
S1 | 36.39 | -5.38% |
S2 | 31.07 | -19.21% |
S3 | 30.32 | -21.16% |
FAQ
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