Race Oncology Limited Stock Forecast
Race Oncology Limited stock price ended at $1.55 on Friday, after losing 0.96%.
(Updated on May 17, 2024)
The Race Oncology Limited stock price fell by -0.96% on the last day (Friday, 17th May 2024) from $1.57 to $1.55. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.65% from a day low at $1.51 to a day high of $1.59. The price has risen in 6 of the last 10 days and is up by 27.05% over the past 2 weeks. Volume has increased on the last day by 62 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 122 thousand shares were bought and sold for approximately $188.56 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 41.80% during the next 3 months and, with a 90% probability hold a price between $1.82 and $2.99 at the end of this 3-month period.
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RAC.AX Signals & Forecast
The Race Oncology Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.52 and $1.42. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, March 18, 2024, and so far it has fallen -8.28%. Further fall is indicated until a new bottom pivot has been found. Race Oncology Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Race Oncology Limited stock
Race Oncology Limited finds support from accumulated volume at $1.52 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 $0.0850 between high and low, or 5.65%. For the last week, the stock has had daily average volatility of 7.41%.
Our recommended stop-loss: $1.48 (-4.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (RAC.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Race Oncology Limited to open at $1.55, and during the day (based on 14 day Average True Range), to move between $1.45 and $1.65, which gives a possible trading interval of +/-$0.0962 (+/-6.21%) up or down from last closing price. If Race Oncology Limited takes out the full calculated possible swing range there will be an estimated 12.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.52 (1.94%) than the resistance at $1.63 (4.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Race Oncology Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Race Oncology Limited stock to perform well in the short-term.
Current score: 3.650 Buy Candidate Unchanged
Predicted Opening Price for Race Oncology Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $1.55 ( 0.108%) | $1.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.63 | 5.38 % | |
| R2 | 1.60 | 3.28 % | ||
| R1 | 1.58 | 1.99 % | ||
| Current price: | 1.55 | |||
| Support | S1 | 1.52 | -2.20 % | |
| S2 | 1.50 | -3.50 % | ||
| S3 | 1.46 | -5.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.69 | 9.03 % | |
| R2 | 1.65 | 6.45 % | ||
| R1 | 1.63 | 4.84 % | ||
| Current price | 1.55 | |||
| Support | S1 | 1.52 | -1.94% | |
| S2 | 1.33 | -14.52% | ||
| S3 | 1.22 | -21.29% |
FAQ
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