Pacific Biosciences of California Stock Forecast

Volatile ride for Pacific Biosciences of California stock price on Monday moving between $1.88 and $2.18
(Updated on May 06, 2024)

PACB Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 46.32%. 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 Pacific Biosciences of California 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 $2.68. On a fall, the stock will find some support from the short-term average at $1.71. 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 Pacific Biosciences of California stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.83 and $1.69. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pacific Biosciences of California finds support just below today's level at $1.83. If this is broken, then the next support from accumulated volume will be at $1.69 and $1.55.

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 $0.305 between high and low, or 16.27%. For the last week, the stock has had daily average volatility of 14.03%.

The Pacific Biosciences of California stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Pacific Biosciences of California has been rising for 8 days in a row, the risk over the next couple of days has increased.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PACB) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Pacific Biosciences of California to open at $2.02, and during the day (based on 14 day Average True Range), to move between $1.71 and $2.27, which gives a possible trading interval of +/-$0.284 (+/-14.27%) up or down from last closing price. If Pacific Biosciences of California takes out the full calculated possible swing range there will be an estimated 28.54% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $1.83, some $0.160 (8.04%) from the current price of $1.99, our system finds the risk reward attractive.

Is Pacific Biosciences of California stock A Buy?

Pacific Biosciences of California 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 Hold/Accumulate to a Sell candidate.

Current score: -1.250 Sell Candidate Downgraded

Predicted Opening Price for Pacific Biosciences of California of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.