Roivant Sciences Ltd. Stock Forecast
Red day on Thursday for Roivant Sciences Ltd. stock after losing 0.766%
(Updated on Apr 18, 2024)
The Roivant Sciences Ltd. stock price fell by -0.766% on the last day (Thursday, 18th Apr 2024) from $10.44 to $10.36. It has now fallen 9 days in a row. During the last trading day the stock fluctuated 1.69% from a day low at $10.33 to a day high of $10.50. The price has fallen in 9 of the last 10 days and is down by -9.99% 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 -428 thousand shares and in total, 3 million shares were bought and sold for approximately $35.41 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.99 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.88% during the next 3 months and, with a 90% probability hold a price between $10.28 and $12.34 at the end of this 3-month period.
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ROIV Signals & Forecast
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. The Roivant Sciences Ltd. 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 $10.81 and $10.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -11.75%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Roivant Sciences Ltd. stock
Roivant Sciences Ltd. finds support from accumulated volume at $10.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.175 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: $9.73 (-6.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (ROIV) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Roivant Sciences Ltd. to open at $10.40, and during the day (based on 14 day Average True Range), to move between $9.97 and $10.75, which gives a possible trading interval of +/-$0.391 (+/-3.77%) up or down from last closing price. If Roivant Sciences Ltd. takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.35 (0.10%) than the resistance at $10.54 (1.74%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.747 Hold/Accumulate Unchanged
Predicted Opening Price for Roivant Sciences Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $10.40 ( 0.338%) | $10.36 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 10.57 | 2.03 % | |
| R2 | 10.50 | 1.38 % | ||
| R1 | 10.46 | 0.98 % | ||
| Current price: | 10.36 | |||
| Support | S1 | 10.33 | -0.307 % | |
| S2 | 10.29 | -0.706 % | ||
| S3 | 10.22 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.51 | 11.10 % | |
| R2 | 10.84 | 4.63 % | ||
| R1 | 10.54 | 1.74 % | ||
| Current price | 10.36 | |||
| Support | S1 | 10.35 | -0.0965% | |
| S2 | 10.32 | -0.386% | ||
| S3 | 10.22 | -1.35% |
FAQ
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