Seelos Therapeutics Inc. Stock Forecast
High volatility in Seelos Therapeutics Inc. stock price on Wednesday which ended trading at $0.301
(Updated on Apr 24, 2024)
The Seelos Therapeutics Inc. stock price fell by -7.98% on the last day (Wednesday, 24th Apr 2024) from $0.327 to $0.301. During the last trading day the stock fluctuated 12.44% from a day low at $0.291 to a day high of $0.327. The price has fallen in 8 of the last 10 days and is down by -44.21% for this period. Volume has increased on the last day by 220 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, 602 thousand shares were bought and sold for approximately $181.20 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.198 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -44.47% during the next 3 months and, with a 90% probability hold a price between $0.110 and $0.480 at the end of this 3-month period.
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SEEL 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 Seelos Therapeutics Inc. 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 $0.335 and $0.637. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -52.92%. Further fall is indicated until a new bottom pivot has been found. Seelos Therapeutics Inc. 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 Seelos Therapeutics Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0362 between high and low, or 12.44%. For the last week, the stock has had daily average volatility of 9.51%.
Seelos Therapeutics Inc. is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SEEL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Seelos Therapeutics Inc. to open at $0.306, and during the day (based on 14 day Average True Range), to move between $0.233 and $0.369, which gives a possible trading interval of +/-$0.0681 (+/-22.62%) up or down from last closing price. If Seelos Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 45.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.327, some $0.0261 (8.67%) from the current price of $0.301, our system finds the risk reward not very attractive.
Is Seelos Therapeutics Inc. stock A Buy?
Seelos Therapeutics Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.711 Strong Sell Candidate Downgraded
Predicted Opening Price for Seelos Therapeutics Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.306 ( 1.79%) | $0.301 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEEL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.343 | 13.82 % | |
| R2 | 0.329 | 9.23 % | ||
| R1 | 0.320 | 6.39 % | ||
| Current price: | 0.301 | |||
| Support | S1 | 0.293 | -2.80 % | |
| S2 | 0.284 | -5.64 % | ||
| S3 | 0.270 | -10.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.335 | 11.13 % | |
| R2 | 0.332 | 10.30 % | ||
| R1 | 0.327 | 8.67 % | ||
| Current price | 0.301 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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