XBiotech Inc. Stock Forecast

XBiotech Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

XBIT Signals & Forecast

The XBiotech Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $9.00. On a fall, the stock will find some support from the long-term average at approximately $7.64. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, April 10, 2024, and so far it has fallen -20.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). XBiotech Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for XBiotech Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $6.90 and $6.40. 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, XBiotech Inc. finds support just below today's level at $6.90. If this is broken, then the next support from accumulated volume will be at $6.40 and $6.39.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.750 between high and low, or 9.93%. For the last week, the stock has had daily average volatility of 8.09%.

Our recommended stop-loss: $7.51 (-5.02%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (XBIT) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect XBiotech Inc. to open at $7.92, and during the day (based on 14 day Average True Range), to move between $7.19 and $8.63, which gives a possible trading interval of +/-$0.724 (+/-9.15%) up or down from last closing price. If XBiotech Inc. takes out the full calculated possible swing range there will be an estimated 18.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.41 (6.32%) than the support at $6.90 (12.77%), 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 XBiotech Inc. stock A Buy?

XBiotech Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.118 Hold/Accumulate Downgraded

Predicted Opening Price for XBiotech Inc. of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.