Nurix Therapeutics, Inc. Stock Forecast
Nurix Therapeutics, Inc. stock downgraded from Buy Candidate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Nurix Therapeutics, Inc. stock price fell by -3.89% on the last day (Wednesday, 17th Apr 2024) from $14.65 to $14.08. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 9.50% from a day low at $13.90 to a day high of $15.22. The price has fallen in 8 of the last 10 days and is down by -3.5% for this period. 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 -130 thousand shares and in total, 947 thousand shares were bought and sold for approximately $13.33 million.
Given the current short-term trend, the stock is expected to rise 97.87% during the next 3 months and, with a 90% probability hold a price between $27.86 and $36.33 at the end of this 3-month period.
NRIX 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 Nurix Therapeutics, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $15.90 and $14.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -19.45%. 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 Nurix Therapeutics, Inc. stock
Nurix Therapeutics, Inc. finds support from accumulated volume at $14.04 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 $1.32 between high and low, or 9.50%. For the last week, the stock has had daily average volatility of 8.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NRIX) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Nurix Therapeutics, Inc. to open at $14.40, and during the day (based on 14 day Average True Range), to move between $12.71 and $15.45, which gives a possible trading interval of +/-$1.37 (+/-9.72%) up or down from last closing price. If Nurix Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 19.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.04 (0.28%) than the resistance at $15.46 (9.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nurix Therapeutics, Inc. stock A Buy?
The Nurix Therapeutics, Inc. stock holds several negative signals and despite the positive trend, we believe Nurix Therapeutics, Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -3.906 Sell Candidate Downgraded
Predicted Opening Price for Nurix Therapeutics, Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $14.40 ( 2.27%) | $14.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.72 | 11.65 % | |
| R2 | 15.22 | 8.07 % | ||
| R1 | 14.90 | 5.85 % | ||
| Current price: | 14.08 | |||
| Support | S1 | 13.90 | -1.31 % | |
| S2 | 13.58 | -3.52 % | ||
| S3 | 13.08 | -7.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.74 | 18.89 % | |
| R2 | 15.69 | 11.43 % | ||
| R1 | 15.46 | 9.80 % | ||
| Current price | 14.08 | |||
| Support | S1 | 14.04 | -0.284% | |
| S2 | 13.08 | -7.10% | ||
| S3 | 12.84 | -8.81% |
FAQ
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