Volatile ride for Redhill Biopharma Ltd. stock price on Wednesday moving between $2.88 and $3.37
(Updated on Dec 08, 2021)
Sell candidate since 2021-11-11 Loss -35.29% PDF
The Redhill Biopharma Ltd. stock price gained 7.77% on the last trading day (Wednesday, 8th Dec 2021), rising from $2.96 to $3.19. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 17.01% from a day low at $2.88 to a day high of $3.37. The price has risen in 7 of the last 10 days and is up by 17.28% 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, 284 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $3.68 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.52% during the next 3 months and, with a 90% probability hold a price between $1.66 and $4.15 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 25.10%. 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 Redhill Biopharma Ltd. 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 $4.30. On a fall, the stock will find some support from the short-term average at $2.82. 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
On the downside, the stock finds support just below today's level from accumulated volume at $2.83 and $2.73. There is 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, Redhill Biopharma Ltd. finds support just below today's level at $2.83. If this is broken, then the next support from accumulated volume will be at $2.73 and $2.72.
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 $0.49 between high and low, or 17.01%. For the last week, the stock has had a daily average volatility of 12.18%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Redhill Biopharma Ltd. stock A Buy?
Redhill Biopharma Ltd. 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: -1.471
Predicted Opening Price for Redhill Biopharma Ltd. of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Dec 01, 2021 "BTIG Research" gave "$16.00 - $10.00" rating for RDHL. The price target was changed from $2.73 to 6.5%.
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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