Neurogene Inc. Stock Forecast
Big movements in Neurogene Inc. stock price on Monday moving 11.61% between high and low
(Updated on Jun 17, 2024)
The Neurogene Inc. stock price fell by -6.08% on the last day (Monday, 17th Jun 2024) from $42.59 to $40.00. During the last trading day the stock fluctuated 11.61% from a day low at $39.89 to a day high of $44.52. The price has fallen in 5 of the last 10 days but is still up by 7.44% over the past 2 weeks. 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 -493 shares and in total, 85 thousand shares were bought and sold for approximately $3.39 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 $42.43 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 -18.74% during the next 3 months and, with a 90% probability hold a price between $19.73 and $34.48 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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NGNE Signals & Forecast
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 $39.17 and $34.99. 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). 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 Friday, June 14, 2024, and so far it has fallen -6.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Neurogene Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $37.55 and $34.48. 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 $37.55. If this is broken, then the next support from accumulated volume will be at $34.48 and $32.52.
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 $4.63 between high and low, or 11.61%. For the last week, the stock has had daily average volatility of 8.75%.
Our recommended stop-loss: $37.82 (-5.45%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (NGNE) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Neurogene Inc. to open at $41.47, and during the day (based on 14 day Average True Range), to move between $37.32 and $42.68, which gives a possible trading interval of +/-$2.68 (+/-6.70%) up or down from last closing price. If Neurogene Inc. takes out the full calculated possible swing range there will be an estimated 13.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $37.55 (6.13%) than the resistance at $42.64 (6.60%), 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: 0.815 Hold/Accumulate Downgraded
Predicted Opening Price for Neurogene Inc. of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
$41.47 ( 3.68%) | $40.00 |
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 | 46.10 | 15.25% |
R2 | 44.33 | 10.83% |
R1 | 43.24 | 8.10% |
Price | 40.00 | |
S1 | 39.70 | -0.747% |
S2 | 38.61 | -3.48% |
S3 | 36.84 | -7.90% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 46.78 | 16.95% |
R2 | 45.06 | 12.65% |
R1 | 42.64 | 6.60% |
Price | 40.00 | |
S1 | 37.55 | -6.13% |
S2 | 34.48 | -13.80% |
S3 | 32.52 | -18.70% |
FAQ
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