T2 Biosystems Stock Forecast
Big movements in T2 Biosystems stock price on Thursday moving 21.36% between high and low
(Updated on May 02, 2024)
The T2 Biosystems stock price gained 21.67% on the last trading day (Thursday, 2nd May 2024), rising from $3.00 to $3.65. During the last trading day the stock fluctuated 21.36% from a day low at $3.09 to a day high of $3.75. The price has risen in 6 of the last 10 days and is up by 22.07% over the past 2 weeks. Volume fell on the last day by -250 thousand shares and in total, 255 thousand shares were bought and sold for approximately $929.24 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.52, a level that may pose a second chance to hit a runner. According to fan-theory $4.70 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TTOO Signals & Forecast
The T2 Biosystems 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 $3.04 and $3.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 34.19%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for T2 Biosystems stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.16 and $3.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, T2 Biosystems finds support just below today's level at $3.16. If this is broken, then the next support from accumulated volume will be at $3.11 and $3.00.
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 $0.660 between high and low, or 21.36%. For the last week the stock has had daily average volatility of 16.33%.
Our recommended stop-loss: $3.53 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TTOO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect T2 Biosystems to open at $3.50, and during the day (based on 14 day Average True Range), to move between $3.25 and $4.05, which gives a possible trading interval of +/-$0.400 (+/-10.95%) up or down from last closing price. If T2 Biosystems takes out the full calculated possible swing range there will be an estimated 21.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.93 (7.67%) than the support at $3.16 (13.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
T2 Biosystems will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$2.20. We will update the financials statements for T2 Biosystems, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.25% in the first trading day after earnings release.
Is T2 Biosystems stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.881 Buy Candidate Upgraded
Predicted Opening Price for T2 Biosystems of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $3.50 ( 4.20%) | $3.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTOO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.16 | 13.88 % | |
| R2 | 3.90 | 6.97 % | ||
| R1 | 3.75 | 2.71 % | ||
| Current price: | 3.65 | |||
| Support | S1 | 3.24 | -11.11 % | |
| S2 | 3.09 | -15.38 % | ||
| S3 | 2.84 | -22.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.47 | 22.47 % | |
| R2 | 4.02 | 10.14 % | ||
| R1 | 3.93 | 7.67 % | ||
| Current price | 3.65 | |||
| Support | S1 | 3.16 | -13.42% | |
| S2 | 3.11 | -14.79% | ||
| S3 | 3.00 | -17.81% |
FAQ
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