ProQR Therapeutics N.V. Stock Forecast
ProQR Therapeutics N.V. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 29, 2024)
The ProQR Therapeutics N.V. stock price gained 1.55% on the last trading day (Monday, 29th Apr 2024), rising from $1.94 to $1.97. During the last trading day the stock fluctuated 6.22% from a day low at $1.93 to a day high of $2.05. The price has fallen in 6 of the last 10 days and is down by -3.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 254 thousand more shares were traded than the day before. In total, 304 thousand shares were bought and sold for approximately $598.02 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 $1.86 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect ProQR Therapeutics N.V. stock with a 90% probability to be traded between $1.88 and $2.60 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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PRQR Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.91%. Further rise is indicated until a new top pivot has been found. ProQR Therapeutics N.V. 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 ProQR Therapeutics N.V. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.98 and $2.19. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ProQR Therapeutics N.V. stock
ProQR Therapeutics N.V. finds support from accumulated volume at $1.95 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.120 between high and low, or 6.22%. For the last week, the stock has had daily average volatility of 5.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRQR) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect ProQR Therapeutics N.V. to open at $1.98, and during the day (based on 14 day Average True Range), to move between $1.82 and $2.12, which gives a possible trading interval of +/-$0.154 (+/-7.84%) up or down from last closing price. If ProQR Therapeutics N.V. takes out the full calculated possible swing range there will be an estimated 15.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.95 (1.02%) than the resistance at $2.17 (10.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProQR Therapeutics N.V. stock A Buy?
ProQR Therapeutics N.V. holds several negative signals and is within a very wide and falling trend, so we believe 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: -1.449 Sell Candidate Downgraded
Predicted Opening Price for ProQR Therapeutics N.V. of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
$1.98 ( 0.677%) | $1.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRQR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.10 | 6.77 % | |
R2 | 2.06 | 4.44 % | ||
R1 | 2.03 | 3.00 % | ||
Current price: | 1.97 | |||
Support | S1 | 1.94 | -1.65 % | |
S2 | 1.91 | -3.09 % | ||
S3 | 1.86 | -5.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.33 | 18.27 % | |
R2 | 2.20 | 11.68 % | ||
R1 | 2.17 | 10.15 % | ||
Current price | 1.97 | |||
Support | S1 | 1.95 | -1.02% | |
S2 | 1.93 | -2.03% | ||
S3 | 1.90 | -3.55% |
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