SELLAS Life Sciences Group Inc. Stock Forecast
Is SELLAS Life Sciences Group Inc. stock still a buy after falling -5.08% on Tuesday?
(Updated on Jul 02, 2024)
The SELLAS Life Sciences Group Inc. stock price fell by -5.08% on the last day (Tuesday, 2nd Jul 2024) from $1.18 to $1.12. During the last trading day the stock fluctuated 7.03% from a day low at $1.11 to a day high of $1.19. The price has fallen in 6 of the last 10 days and is down by -10.4% for this period. Volume has increased on the last day by 71 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, 567 thousand shares were bought and sold for approximately $635.39 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 $1.04 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.04% during the next 3 months and, with a 90% probability hold a price between $0.93 and $1.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SLS Signals & Forecast
There are few to no technical positive signals at the moment. The SELLAS Life Sciences Group 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 $1.16 and $1.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -8.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). SELLAS Life Sciences Group 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 SELLAS Life Sciences Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.06. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0782 between high and low, or 7.03%. For the last week, the stock has had daily average volatility of 6.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SELLAS Life Sciences Group Inc. to open at $1.14, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.24, which gives a possible trading interval of +/-$0.117 (+/-10.41%) up or down from last closing price. If SELLAS Life Sciences Group Inc. takes out the full calculated possible swing range there will be an estimated 20.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.06 (5.36%) than the resistance at $1.21 (8.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SELLAS Life Sciences Group Inc. stock A Buy?
SELLAS Life Sciences Group 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: -7.192 Strong Sell Candidate Downgraded
Predicted Opening Price for SELLAS Life Sciences Group Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.14 ( 1.84%) | $1.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.22 | 8.82% |
| R2 | 1.19 | 6.15% |
| R1 | 1.17 | 4.51% |
| Price | 1.12 | |
| S1 | 1.11 | -0.83% |
| S2 | 1.09 | -2.48% |
| S3 | 1.06 | -5.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.28 | 14.29% |
| R2 | 1.25 | 11.61% |
| R1 | 1.21 | 8.04% |
| Price | 1.12 | |
| S1 | 1.06 | -5.36% |
| S2 | 0 | - |
| S3 | 0 | - |
SLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 09, 2010 | Dec 09, 2010 | Dec 20, 2010 | $0.420 | 0.0005% |
| 2 | Sep 07, 2010 | Sep 09, 2010 | Sep 22, 2010 | $0.150 | 0.0002% |
FAQ
Click here for our free guide on how to buy SELLAS Life Sciences Group Inc. Stock.
