Prelude Therapeutics Incorporated Stock Forecast
A very strong day for Prelude Therapeutics Incorporated stock price on Thursday
(Updated on May 02, 2024)
The Prelude Therapeutics Incorporated stock price gained 6.97% on the last trading day (Thursday, 2nd May 2024), rising from $3.73 to $3.99. During the last trading day the stock fluctuated 6.67% from a day low at $3.75 to a day high of $4.00. The price has risen in 6 of the last 10 days and is up by 15.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $101.37 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.59 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.68% during the next 3 months and, with a 90% probability hold a price between $4.30 and $6.98 at the end of this 3-month period.
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PRLD Signals & Forecast
There are mixed signals in the stock today. The Prelude Therapeutics Incorporated 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 $4.50. On a fall, the stock will find some support from the short-term average at $3.90. 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. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -29.13%. 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). Prelude Therapeutics Incorporated 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.
Support, Risk & Stop-loss for Prelude Therapeutics Incorporated stock
Prelude Therapeutics Incorporated finds support from accumulated volume at $3.96 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 $0.250 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 5.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRLD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Prelude Therapeutics Incorporated to open at $3.91, and during the day (based on 14 day Average True Range), to move between $3.65 and $4.33, which gives a possible trading interval of +/-$0.342 (+/-8.57%) up or down from last closing price. If Prelude Therapeutics Incorporated takes out the full calculated possible swing range there will be an estimated 17.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.96 (0.75%) than the resistance at $4.16 (4.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Prelude Therapeutics Incorporated stock A Buy?
Prelude Therapeutics Incorporated 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.
Current score: -2.555 Sell Candidate Unchanged
Predicted Opening Price for Prelude Therapeutics Incorporated of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $3.91 ( 1.92%) | $3.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRLD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.16 | 4.34 % | |
| R2 | 4.07 | 1.95 % | ||
| R1 | 4.01 | 0.472 % | ||
| Current price: | 3.99 | |||
| Support | S1 | 3.82 | -4.31 % | |
| S2 | 3.76 | -5.79 % | ||
| S3 | 3.66 | -8.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.74 | 18.80 % | |
| R2 | 4.63 | 16.04 % | ||
| R1 | 4.16 | 4.26 % | ||
| Current price | 3.99 | |||
| Support | S1 | 3.96 | -0.752% | |
| S2 | 3.87 | -3.01% | ||
| S3 | 3.22 | -19.30% |
FAQ
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