Entrada Therapeutics, Inc. Stock Forecast
Entrada Therapeutics, Inc. stock price down 2.95% on Friday
(Updated on May 03, 2024)
The Entrada Therapeutics, Inc. stock price fell by -2.95% on the last day (Friday, 3rd May 2024) from $13.56 to $13.16. During the last trading day the stock fluctuated 7.14% from a day low at $12.92 to a day high of $13.84. The price has fallen in 6 of the last 10 days but is still up by 8.31% 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 -31 thousand shares and in total, 36 thousand shares were bought and sold for approximately $474.25 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.75 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.37% during the next 3 months and, with a 90% probability hold a price between $9.73 and $12.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TRDA Signals & Forecast
The Entrada Therapeutics, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $12.71 and $13.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 11.05%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Entrada Therapeutics, Inc. stock
Entrada Therapeutics, Inc. finds support from accumulated volume at $12.71 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 $0.92 between high and low, or 7.14%. For the last week the stock has had daily average volatility of 6.61%.
Our recommended stop-loss: $12.64 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (TRDA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Entrada Therapeutics, Inc. to open at $13.31, and during the day (based on 14 day Average True Range), to move between $12.39 and $13.93, which gives a possible trading interval of +/-$0.772 (+/-5.87%) up or down from last closing price. If Entrada Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 11.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.71 (3.42%) than the resistance at $13.73 (4.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Entrada Therapeutics, Inc. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.380. We will update the financials statements for Entrada Therapeutics, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.11% in the first trading day after earnings release.
Is Entrada Therapeutics, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.452 Buy Candidate Unchanged
Predicted Opening Price for Entrada Therapeutics, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $13.31 ( 1.12%) | $13.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRDA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.23 | 8.12 % | |
| R2 | 13.88 | 5.45 % | ||
| R1 | 13.66 | 3.80 % | ||
| Current price: | 13.16 | |||
| Support | S1 | 12.96 | -1.56 % | |
| S2 | 12.74 | -3.21 % | ||
| S3 | 12.39 | -5.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.17 | 7.67 % | |
| R2 | 13.81 | 4.94 % | ||
| R1 | 13.73 | 4.33 % | ||
| Current price | 13.16 | |||
| Support | S1 | 12.71 | -3.42% | |
| S2 | 12.28 | -6.69% | ||
| S3 | 11.91 | -9.50% |
FAQ
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