Roivant Sciences Ltd. Stock Forecast
Red day on Wednesday for Roivant Sciences Ltd.
(Updated on Jul 03, 2024)
The Roivant Sciences Ltd. stock price fell by -0.758% on the last day (Wednesday, 3rd Jul 2024) from $10.56 to $10.48. During the last trading day the stock fluctuated 2.15% from a day low at $10.45 to a day high of $10.68. The price has fallen in 6 of the last 10 days and is down by -3.32% for this period. 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 -2 million shares and in total, 2 million shares were bought and sold for approximately $24.63 million.
The stock lies in the middle of a 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 -4.88% during the next 3 months and, with a 90% probability hold a price between $9.39 and $10.68 at the end of this 3-month period.
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ROIV Signals & Forecast
There are mixed signals in the stock today. The Roivant Sciences 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 $10.63 and $10.83. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 1.16%. 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).
A buy signal from a double bottom formation was found on Friday, May 31, 2024 and based on theory for this formation the price should go up by 17.79% to $12.34 within 30 trading days (Tuesday, July 16, 2024) since signal was issued.
Support, Risk & Stop-loss for Roivant Sciences Ltd. stock
Roivant Sciences Ltd. finds support from accumulated volume at $10.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.225 between high and low, or 2.15%. For the last week the stock has had daily average volatility of 2.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ROIV) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Roivant Sciences Ltd. to open at $10.54, and during the day (based on 14 day Average True Range), to move between $10.18 and $10.78, which gives a possible trading interval of +/-$0.303 (+/-2.89%) up or down from last closing price. If Roivant Sciences Ltd. takes out the full calculated possible swing range there will be an estimated 5.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.47 (0.10%) than the resistance at $10.57 (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Roivant Sciences Ltd. stock A Buy?
Roivant Sciences 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: -1.582 Sell Candidate Unchanged
Predicted Opening Price for Roivant Sciences Ltd. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $10.54 ( 0.525%) | $10.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROIV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.76 | 2.67% |
| R2 | 10.67 | 1.85% |
| R1 | 10.62 | 1.34% |
| Price | 10.48 | |
| S1 | 10.45 | -0.295% |
| S2 | 10.40 | -0.80% |
| S3 | 10.31 | -1.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.83 | 3.34% |
| R2 | 10.69 | 2.00% |
| R1 | 10.57 | 0.86% |
| Price | 10.48 | |
| S1 | 10.47 | -0.0954% |
| S2 | 10.39 | -0.86% |
| S3 | 10.36 | -1.15% |
FAQ
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