WAVE Life Sciences Ltd. Stock Forecast
WAVE Life Sciences Ltd. stock price ended at $4.80 on Thursday, after gaining 0.209%.
(Updated on Apr 18, 2024)
The WAVE Life Sciences Ltd. stock price gained 0.209% on the last trading day (Thursday, 18th Apr 2024), rising from $4.79 to $4.80. During the last trading day the stock fluctuated 4.29% from a day low at $4.66 to a day high of $4.86. The price has fallen in 6 of the last 10 days and is down by -17.95% for this period. Volume fell on the last day by -75 thousand shares and in total, 519 thousand shares were bought and sold for approximately $2.49 million. 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 stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $4.83. A reaction back to this level may hold a second chance to get out before further falls.
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WVE Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.209%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The WAVE Life Sciences Ltd. 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 $5.49 and $5.90. 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 WAVE Life Sciences Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.41 and $4.00. 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, WAVE Life Sciences Ltd. finds support just below today's level at $4.41. If this is broken, then the next support from accumulated volume will be at $4.00 and $3.91.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.200 between high and low, or 4.29%. For the last week, the stock has had daily average volatility of 7.71%.
WAVE Life Sciences Ltd. is oversold on RSI14 (20). 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 (WVE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect WAVE Life Sciences Ltd. to open at $4.77, and during the day (based on 14 day Average True Range), to move between $4.40 and $5.20, which gives a possible trading interval of +/-$0.395 (+/-8.24%) up or down from last closing price. If WAVE Life Sciences Ltd. takes out the full calculated possible swing range there will be an estimated 16.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.10 (6.25%) than the support at $4.41 (8.12%), 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.
Is WAVE Life Sciences Ltd. stock A Buy?
The WAVE Life Sciences Ltd. stock holds several negative signals and despite the positive trend, we believe WAVE Life Sciences Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.906 Sell Candidate Unchanged
Predicted Opening Price for WAVE Life Sciences Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $4.77 ( 0.556%) | $4.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.97 | 3.61 % | |
| R2 | 4.90 | 2.02 % | ||
| R1 | 4.85 | 1.04 % | ||
| Current price: | 4.80 | |||
| Support | S1 | 4.70 | -2.15 % | |
| S2 | 4.65 | -3.13 % | ||
| S3 | 4.57 | -4.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.94 | 23.75 % | |
| R2 | 5.67 | 18.13 % | ||
| R1 | 5.10 | 6.25 % | ||
| Current price | 4.80 | |||
| Support | S1 | 4.41 | -8.12% | |
| S2 | 4.00 | -16.67% | ||
| S3 | 3.91 | -18.54% |
FAQ
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