0% commission for ETF tradesNovoCure Limited Stock Forecast
AI Analysis of NVCR
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NovoCure Limited stock price up 0.580% on Thursday
(Updated on Sep 12, 2024)
The NovoCure Limited stock price gained 0.580% on the last trading day (Thursday, 12th Sep 2024), rising from $17.23 to $17.33. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.12% from a day low at $16.72 to a day high of $17.57. The price has been going up and down for this period, and there has been a -12.16% 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, 141 thousand more shares were traded than the day before. In total, 773 thousand shares were bought and sold for approximately $13.39 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 -3.82% during the next 3 months and, with a 90% probability hold a price between $14.72 and $22.02 at the end of this 3-month period.
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NVCR Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, September 09, 2024, and so far it has risen 4.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NovoCure Limited 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 $18.70. On a fall, the stock will find some support from the short-term average at $17.10. 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.
Support, Risk & Stop-loss for NovoCure Limited stock
NovoCure Limited finds support from accumulated volume at $17.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.86 between high and low, or 5.12%. For the last week, the stock has had daily average volatility of 6.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVCR) For The Upcoming Trading Day Of Friday 13th
For the upcoming trading day on Friday, 13th we expect NovoCure Limited to open at $17.21, and during the day (based on 14 day Average True Range), to move between $16.12 and $18.54, which gives a possible trading interval of +/-$1.21 (+/-6.97%) up or down from last closing price. If NovoCure Limited takes out the full calculated possible swing range there will be an estimated 13.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.50 (0.98%) than the support at $17.13 (1.15%), 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 NovoCure Limited stock A Buy?
NovoCure Limited 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.
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Current score: -2.451 Sell Candidate Unchanged
Predicted Opening Price for NovoCure Limited of Friday, September 13, 2024
| Fair opening price September 13, 2024 | Current price |
|---|---|
| $17.21 ( 0.721%) | $17.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVCR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.06 | 4.21% |
| R2 | 17.73 | 2.33% |
| R1 | 17.53 | 1.16% |
| Price | 17.33 | |
| S1 | 16.88 | -2.61% |
| S2 | 16.68 | -3.77% |
| S3 | 16.35 | -5.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.44 | 12.18% |
| R2 | 19.40 | 11.94% |
| R1 | 17.50 | 0.98% |
| Price | 17.33 | |
| S1 | 17.13 | -1.15% |
| S2 | 16.75 | -3.35% |
| S3 | 16.70 | -3.64% |
FAQ
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