Regulus Therapeutics Inc. Stock Forecast
Weaker technical forecast for Regulus Therapeutics Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The Regulus Therapeutics Inc. stock price fell by -1.49% on the last day (Friday, 3rd May 2024) from $2.69 to $2.65. During the last trading day the stock fluctuated 7.20% from a day low at $2.64 to a day high of $2.83. The price has risen in 7 of the last 10 days and is up by 24.41% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -306 thousand shares and in total, 404 thousand shares were bought and sold for approximately $1.07 million.
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 72.17% during the next 3 months and, with a 90% probability hold a price between $3.91 and $5.97 at the end of this 3-month period.
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RGLS Signals & Forecast
The Regulus Therapeutics Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.48 and $2.55. 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 Thursday, March 28, 2024, and so far it has fallen -7.99%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Regulus Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.45 and $2.43. 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, Regulus Therapeutics Inc. finds support just below today's level at $2.45. If this is broken, then the next support from accumulated volume will be at $2.43 and $2.36.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.190 between high and low, or 7.20%. For the last week the stock has had daily average volatility of 12.90%.
Our recommended stop-loss: $2.52 (-4.88%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (RGLS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Regulus Therapeutics Inc. to open at $2.71, and during the day (based on 14 day Average True Range), to move between $2.40 and $2.90, which gives a possible trading interval of +/-$0.246 (+/-9.28%) up or down from last closing price. If Regulus Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 18.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.78 (4.91%) than the support at $2.45 (7.74%), 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.
Earnings coming up
Regulus Therapeutics Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for Regulus Therapeutics Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.89% in the first trading day after earnings release.
Is Regulus Therapeutics Inc. stock A Buy?
Regulus Therapeutics Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.003 Hold/Accumulate Downgraded
Predicted Opening Price for Regulus Therapeutics Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.71 ( 2.14%) | $2.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RGLS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.90 | 9.31 % | |
| R2 | 2.82 | 6.57 % | ||
| R1 | 2.78 | 4.88 % | ||
| Current price: | 2.65 | |||
| Support | S1 | 2.63 | -0.601 % | |
| S2 | 2.59 | -2.29 % | ||
| S3 | 2.52 | -5.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.88 | 8.68 % | |
| R2 | 2.80 | 5.66 % | ||
| R1 | 2.78 | 4.91 % | ||
| Current price | 2.65 | |||
| Support | S1 | 2.45 | -7.74% | |
| S2 | 2.43 | -8.30% | ||
| S3 | 2.36 | -10.94% |
FAQ
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