NeuroSense Therapeutics Ltd. Stock Forecast
High volatility in NeuroSense Therapeutics Ltd. stock price on Friday which ended trading at $1.33
(Updated on May 03, 2024)
The NeuroSense Therapeutics Ltd. stock price gained 4.72% on the last trading day (Friday, 3rd May 2024), rising from $1.27 to $1.33. During the last trading day the stock fluctuated 12.61% from a day low at $1.19 to a day high of $1.34. The price has been going up and down for this period, and there has been a -6.34% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately $181.67 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.23 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect NeuroSense Therapeutics Ltd. stock with a 90% probability to be traded between $1.25 and $2.16 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NRSN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 8.13%. Further rise is indicated until a new top pivot has been found. NeuroSense Therapeutics Ltd. 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. The NeuroSense Therapeutics Ltd. 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 $1.58. On a fall, the stock will find some support from the short-term average at $1.28. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NeuroSense Therapeutics Ltd. stock
NeuroSense Therapeutics Ltd. finds support from accumulated volume at $1.28 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 $0.150 between high and low, or 12.61%. For the last week, the stock has had daily average volatility of 10.96%.
Our recommended stop-loss: $1.27 (-4.24%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (NRSN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect NeuroSense Therapeutics Ltd. to open at $1.29, and during the day (based on 14 day Average True Range), to move between $1.15 and $1.51, which gives a possible trading interval of +/-$0.178 (+/-13.36%) up or down from last closing price. If NeuroSense Therapeutics Ltd. takes out the full calculated possible swing range there will be an estimated 26.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.35 (1.50%) than the support at $1.28 (4.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NeuroSense Therapeutics Ltd. stock A Buy?
NeuroSense Therapeutics Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.593 Hold/Accumulate Upgraded
Predicted Opening Price for NeuroSense Therapeutics Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.29 ( 3.26%) | $1.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRSN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.44 | 8.02 % | |
| R2 | 1.38 | 3.71 % | ||
| R1 | 1.34 | 1.05 % | ||
| Current price: | 1.33 | |||
| Support | S1 | 1.23 | -7.57 % | |
| S2 | 1.19 | -10.23 % | ||
| S3 | 1.14 | -14.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.39 | 4.51 % | |
| R2 | 1.37 | 3.01 % | ||
| R1 | 1.35 | 1.50 % | ||
| Current price | 1.33 | |||
| Support | S1 | 1.28 | -4.14% | |
| S2 | 1.26 | -5.26% | ||
| S3 | 1.25 | -6.02% |
FAQ
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