Abeona Therapeutics Inc. Stock Forecast
Big movements in Abeona Therapeutics Inc. stock price on Tuesday moving 27.25% between high and low
(Updated on Apr 23, 2024)
The Abeona Therapeutics Inc. stock price fell by -53.67% on the last day (Tuesday, 23rd Apr 2024) from $7.36 to $3.41. During the last trading day the stock fluctuated 27.25% from a day low at $3.34 to a day high of $4.25. The price has been going up and down for this period, and there has been a -54.17% loss for the last 2 weeks. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately $18.61 million.
Given the current short-term trend, the stock is expected to rise 38.22% during the next 3 months and, with a 90% probability hold a price between $4.71 and $14.07 at the end of this 3-month period.
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ABEO Signals & Forecast
There are few to no technical positive signals at the moment. The Abeona Therapeutics 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 $7.03 and $7.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -60.71%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Abeona Therapeutics Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.91 between high and low, or 27.25%. For the last week, the stock has had daily average volatility of 11.73%.
Abeona Therapeutics Inc. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABEO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Abeona Therapeutics Inc. to open at $3.67, and during the day (based on 14 day Average True Range), to move between $2.63 and $4.19, which gives a possible trading interval of +/-$0.778 (+/-22.81%) up or down from last closing price. If Abeona Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 45.62% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $4.07, some $0.660 (19.35%) from the current price of $3.41, our system finds the risk reward not very attractive.
Is Abeona Therapeutics Inc. stock A Buy?
The Abeona Therapeutics Inc. stock holds several negative signals and despite the positive trend, we believe Abeona Therapeutics Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.868 Sell Candidate Downgraded
Predicted Opening Price for Abeona Therapeutics Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.67 ( 7.53%) | $3.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABEO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.58 | 34.21 % | |
| R2 | 4.23 | 24.02 % | ||
| R1 | 4.01 | 17.72 % | ||
| Current price: | 3.41 | |||
| Support | S1 | 3.32 | -2.67 % | |
| S2 | 3.10 | -8.97 % | ||
| S3 | 2.76 | -19.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.07 | 19.35 % | ||
| Current price | 3.41 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ABEO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 31, 2000 | Mar 31, 2000 | Mar 31, 2000 | $3,706.25 | 8.55% |
FAQ
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