Redhill Biopharma Ltd. Stock Forecast
Redhill Biopharma Ltd. stock price down 0.88% on Thursday
(Updated on Apr 25, 2024)
The Redhill Biopharma Ltd. stock price fell by -0.88% on the last day (Thursday, 25th Apr 2024) from $0.420 to $0.416. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.43% from a day low at $0.402 to a day high of $0.420. The price has fallen in 7 of the last 10 days and is down by -8.35% for this period. Volume has increased on the last day by 78 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, 268 thousand shares were bought and sold for approximately $111.72 thousand.
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 -24.15% during the next 3 months and, with a 90% probability hold a price between $0.278 and $0.391 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RDHL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.10%. Further rise is indicated until a new top pivot has been found. 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 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 $0.424 and $0.489. 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). Redhill Biopharma Ltd. 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 Redhill Biopharma Ltd. stock
Redhill Biopharma Ltd. finds support from accumulated volume at $0.404 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 $0.0178 between high and low, or 4.43%. For the last week, the stock has had daily average volatility of 8.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RDHL) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Redhill Biopharma Ltd. to open at $0.413, and during the day (based on 14 day Average True Range), to move between $0.378 and $0.454, which gives a possible trading interval of +/-$0.0382 (+/-9.18%) up or down from last closing price. If Redhill Biopharma Ltd. takes out the full calculated possible swing range there will be an estimated 18.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.404 (2.88%) than the resistance at $0.461 (10.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Redhill Biopharma Ltd. stock A Buy?
Redhill Biopharma Ltd. 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.
Current score: -4.096 Sell Candidate Unchanged
Predicted Opening Price for Redhill Biopharma Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.413 ( 0.82%) | $0.416 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDHL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.431 | 3.46 % | |
| R2 | 0.424 | 1.83 % | ||
| R1 | 0.420 | 0.82 % | ||
| Current price: | 0.416 | |||
| Support | S1 | 0.406 | -2.45 % | |
| S2 | 0.402 | -3.46 % | ||
| S3 | 0.395 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.515 | 23.62 % | |
| R2 | 0.504 | 20.98 % | ||
| R1 | 0.461 | 10.76 % | ||
| Current price | 0.416 | |||
| Support | S1 | 0.404 | -2.88% | |
| S2 | 0.386 | -7.38% | ||
| S3 | 0.385 | -7.50% |
FAQ
Click here for our free guide on how to buy Redhill Biopharma Ltd. Stock.
