Nkarta Inc. Stock Forecast
Big movements in Nkarta Inc. stock price on Friday moving 13.33% between high and low
(Updated on May 03, 2024)
The Nkarta Inc. stock price fell by -1.73% on the last day (Friday, 3rd May 2024) from $7.53 to $7.40. During the last trading day the stock fluctuated 13.33% from a day low at $7.35 to a day high of $8.33. The price has risen in 6 of the last 10 days and is up by 1.51% 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 -299 thousand shares and in total, 806 thousand shares were bought and sold for approximately $5.96 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 -26.62% during the next 3 months and, with a 90% probability hold a price between $3.32 and $9.30 at the end of this 3-month period.
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NKTX 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 Nkarta Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.03. On a fall, the stock will find some support from the short-term average at $7.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -52.90%. 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 Nkarta Inc. stock
Nkarta Inc. finds support from accumulated volume at $7.39 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.98 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 9.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NKTX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nkarta Inc. to open at $7.69, and during the day (based on 14 day Average True Range), to move between $6.58 and $8.22, which gives a possible trading interval of +/-$0.82 (+/-11.12%) up or down from last closing price. If Nkarta Inc. takes out the full calculated possible swing range there will be an estimated 22.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.39 (0.14%) than the resistance at $7.79 (5.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Nkarta Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.560. We will update the financials statements for Nkarta Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.87% in the first trading day after earnings release.
Is Nkarta Inc. stock A Buy?
Nkarta Inc. holds several negative signals and we believe that 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: -6.426 Strong Sell Candidate Downgraded
Predicted Opening Price for Nkarta Inc. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$7.69 ( 3.96%) | $7.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NKTX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.67 | 17.21 % | |
R2 | 8.30 | 12.15 % | ||
R1 | 8.07 | 9.02 % | ||
Current price: | 7.40 | |||
Support | S1 | 7.32 | -1.09 % | |
S2 | 7.09 | -4.22 % | ||
S3 | 6.71 | -9.28 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.92 | 20.54 % | |
R2 | 8.80 | 18.92 % | ||
R1 | 7.79 | 5.27 % | ||
Current price | 7.40 | |||
Support | S1 | 7.39 | -0.135% | |
S2 | 6.87 | -7.16% | ||
S3 | 6.82 | -7.84% |
FAQ
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