Shattuck Labs, Inc. Stock Forecast
Shattuck Labs, Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Shattuck Labs, Inc. stock price fell by -1.21% on the last day (Thursday, 25th Apr 2024) from $9.90 to $9.78. During the last trading day the stock fluctuated 4.48% from a day low at $9.47 to a day high of $9.89. The price has fallen in 6 of the last 10 days but is still up by 1.77% 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 -122 thousand shares and in total, 112 thousand shares were bought and sold for approximately $1.10 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $10.13 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Shattuck Labs, Inc. stock with a 90% probability to be traded between $8.26 and $10.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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STTK Signals & Forecast
The Shattuck Labs, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $9.74 and $9.20. 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, April 18, 2024, and so far it has fallen -3.46%. 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 Shattuck Labs, Inc. stock
Shattuck Labs, Inc. finds support from accumulated volume at $9.73 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.424 between high and low, or 4.48%. For the last week the stock has had daily average volatility of 6.41%.
Our recommended stop-loss: $9.30 (-4.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (STTK) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Shattuck Labs, Inc. to open at $9.71, and during the day (based on 14 day Average True Range), to move between $9.15 and $10.41, which gives a possible trading interval of +/-$0.626 (+/-6.40%) up or down from last closing price. If Shattuck Labs, Inc. takes out the full calculated possible swing range there will be an estimated 12.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.73 (0.51%) than the resistance at $9.92 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shattuck Labs, Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shattuck Labs, Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.614 Buy Candidate Upgraded
Predicted Opening Price for Shattuck Labs, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $9.71 ( 0.696%) | $9.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STTK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.14 | 3.64 % | |
| R2 | 9.97 | 1.98 % | ||
| R1 | 9.87 | 0.96 % | ||
| Current price: | 9.78 | |||
| Support | S1 | 9.55 | -2.35 % | |
| S2 | 9.45 | -3.38 % | ||
| S3 | 9.29 | -5.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.13 | 3.58 % | |
| R2 | 10.02 | 2.45 % | ||
| R1 | 9.92 | 1.43 % | ||
| Current price | 9.78 | |||
| Support | S1 | 9.73 | -0.511% | |
| S2 | 9.47 | -3.17% | ||
| S3 | 8.94 | -8.59% |
FAQ
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