Oncternal Therapeutics, Inc. Stock Forecast
On Thursday, Oncternal Therapeutics, Inc. stock price gained an impressive 6.00%
(Updated on May 02, 2024)
The Oncternal Therapeutics, Inc. stock price gained 6.00% on the last trading day (Thursday, 2nd May 2024), rising from $8.25 to $8.75. During the last trading day the stock fluctuated 9.31% from a day low at $8.00 to a day high of $8.75. The price has been going up and down for this period, and there has been a 1.69% gain 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, 6 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $88.01 thousand.
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 -10.26% during the next 3 months and, with a 90% probability hold a price between $6.51 and $8.22 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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ONCT Signals & Forecast
The Oncternal Therapeutics, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $8.41 and $8.55. A breakdown below any of these levels will issue sell signals. Oncternal Therapeutics, Inc. 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. The very low volume increases the risk and reduces the other technical signals issued. 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, April 12, 2024, and so far it has fallen -6.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Oncternal Therapeutics, Inc. stock
Oncternal Therapeutics, Inc. finds support from accumulated volume at $8.62 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 $0.745 between high and low, or 9.31%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: $8.31 (-5.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (ONCT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Oncternal Therapeutics, Inc. to open at $8.50, and during the day (based on 14 day Average True Range), to move between $8.23 and $9.26, which gives a possible trading interval of +/-$0.513 (+/-5.87%) up or down from last closing price. If Oncternal Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 11.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.80 (0.63%) than the support at $8.62 (1.43%), 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 Oncternal Therapeutics, Inc. stock A Buy?
Oncternal Therapeutics, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.713 Hold/Accumulate Upgraded
Predicted Opening Price for Oncternal Therapeutics, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $8.50 ( 2.84%) | $8.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONCT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.24 | 5.68 % | |
| R2 | 8.96 | 2.43 % | ||
| R1 | 8.78 | 0.415 % | ||
| Current price: | 8.75 | |||
| Support | S1 | 8.21 | -6.09 % | |
| S2 | 8.04 | -8.10 % | ||
| S3 | 7.75 | -11.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.03 | 14.69 % | |
| R2 | 9.00 | 2.92 % | ||
| R1 | 8.80 | 0.629 % | ||
| Current price | 8.75 | |||
| Support | S1 | 8.62 | -1.43% | |
| S2 | 8.42 | -3.72% | ||
| S3 | 7.80 | -10.81% |
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