10x Genomics, Inc. Stock Forecast
10x Genomics, Inc. stock upgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The 10x Genomics, Inc. stock price gained 2.57% on the last trading day (Friday, 26th Apr 2024), rising from $26.90 to $27.59. During the last trading day the stock fluctuated 4.96% from a day low at $26.62 to a day high of $27.94. The price has fallen in 9 of the last 10 days and is down by -20.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 283 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $36.63 million.
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 $26.58 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -36.99% during the next 3 months and, with a 90% probability hold a price between $16.75 and $21.32 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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TXG Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.57%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 10x Genomics, 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 $27.75 and $34.64. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for 10x Genomics, Inc. stock
10x Genomics, Inc. finds support from accumulated volume at $27.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.32 between high and low, or 4.96%. For the last week, the stock has had daily average volatility of 4.18%.
10x Genomics, Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TXG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect 10x Genomics, Inc. to open at $27.38, and during the day (based on 14 day Average True Range), to move between $26.00 and $29.18, which gives a possible trading interval of +/-$1.59 (+/-5.75%) up or down from last closing price. If 10x Genomics, Inc. takes out the full calculated possible swing range there will be an estimated 11.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.58 (0.04%) than the resistance at $28.95 (4.93%), 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
10x Genomics, Inc. will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.460. We will update the financials statements for 10x Genomics, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.20% in the first trading day after earnings release.
Is 10x Genomics, Inc. stock A Buy?
10x Genomics, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.443 Sell Candidate Upgraded
Predicted Opening Price for 10x Genomics, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $27.38 ( 0.750%) | $27.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TXG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.70 | 4.03 % | |
| R2 | 28.20 | 2.21 % | ||
| R1 | 27.89 | 1.08 % | ||
| Current price: | 27.59 | |||
| Support | S1 | 26.88 | -2.58 % | |
| S2 | 26.57 | -3.71 % | ||
| S3 | 26.06 | -5.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.80 | 11.63 % | |
| R2 | 29.16 | 5.69 % | ||
| R1 | 28.95 | 4.93 % | ||
| Current price | 27.59 | |||
| Support | S1 | 27.58 | -0.0362% | |
| S2 | 27.52 | -0.254% | ||
| S3 | 26.90 | -2.50% |
FAQ
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