Rani Therapeutics Holdings, Inc. Stock Forecast
High volatility in Rani Therapeutics Holdings, Inc. stock price on Friday which ended trading at $5.22
(Updated on May 17, 2024)
The Rani Therapeutics Holdings, Inc. stock price fell by -4.40% on the last day (Friday, 17th May 2024) from $5.46 to $5.22. It has now fallen 9 days in a row. During the last trading day the stock fluctuated 14.47% from a day low at $5.01 to a day high of $5.74. The price has fallen in 9 of the last 10 days and is down by -26.99% for this period. Volume has increased on the last day by 37 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, 114 thousand shares were bought and sold for approximately $594.25 thousand.
Given the current short-term trend, the stock is expected to rise 84.71% during the next 3 months and, with a 90% probability hold a price between $9.64 and $17.32 at the end of this 3-month period.
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RANI Signals & Forecast
There are few to no technical positive signals at the moment. The Rani Therapeutics Holdings, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $5.88 and $5.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -33.50%. 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). Rani Therapeutics Holdings, Inc. 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 Rani Therapeutics Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.47 and $4.16. 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, Rani Therapeutics Holdings, Inc. finds support just below today's level at $4.47. If this is broken, then the next support from accumulated volume will be at $4.16 and $4.00.
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 $0.725 between high and low, or 14.47%. For the last week, the stock has had daily average volatility of 10.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RANI) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Rani Therapeutics Holdings, Inc. to open at $5.32, and during the day (based on 14 day Average True Range), to move between $4.56 and $5.88, which gives a possible trading interval of +/-$0.659 (+/-12.63%) up or down from last closing price. If Rani Therapeutics Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 25.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.40 (3.45%) than the support at $4.47 (14.37%), 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 Rani Therapeutics Holdings, Inc. stock A Buy?
The Rani Therapeutics Holdings, Inc. stock holds several negative signals and despite the positive trend, we believe Rani Therapeutics Holdings, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -5.031 Strong Sell Candidate Unchanged
Predicted Opening Price for Rani Therapeutics Holdings, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $5.32 ( 1.95%) | $5.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RANI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.05 | 15.84 % | |
| R2 | 5.77 | 10.53 % | ||
| R1 | 5.60 | 7.25 % | ||
| Current price: | 5.22 | |||
| Support | S1 | 5.04 | -3.36 % | |
| S2 | 4.87 | -6.64 % | ||
| S3 | 4.60 | -11.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.37 | 22.03 % | |
| R2 | 6.05 | 15.90 % | ||
| R1 | 5.40 | 3.45 % | ||
| Current price | 5.22 | |||
| Support | S1 | 4.47 | -14.37% | |
| S2 | 4.16 | -20.31% | ||
| S3 | 4.00 | -23.37% |
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