Aduro Biotech Forecast and Stock Analysis
Technical ADRO stock analysis for March 22, 2019.
Aduro Biotech fell by -5.17% in the last day from $3.87 to $3.67 and has now fallen 3 days in a row. The price has been going up and down for this period, and there has been a -5.17% loss for the last 2 weeks. Volume has increased in the last day by 33 946 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 316 500 shares bought and sold for approximately $1.16 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the ADRO stock was $3.67. This is 5.17% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 7.08% from a day low at $3.67 to a day high of $3.93.
30 day high of the ADRO stock price was $4.50 and low was $3.67.
90 day high was $4.50 and low was $2.34.
52 week high for the Aduro Biotech - $9.85 and low - $2.34.
Aduro Biotech lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $3.55 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 59.65% during the next 3 months and, with 90% probability hold a price between $5.67 and $7.62 at the end of this period.
There are few to none technical positive signals at the moment. Aduro Biotech holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $3.92 and $3.86. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday March 15, 2019, which indicates further falls until a new bottom pivot has been found. Aduro Biotech 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-off's".
Relative Strength Index (RSI)
RSI14 is 33 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $3.05 and $2.98.
There is 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, Aduro Biotech finds support just below today's level at $3.05. If this is broken, then the next support from accumulated volume will be at $2.98 and $2.93.
This stock may move much during a 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 $0.26 between high and low, or 7.08%. For the last week, the stock has had a daily average volatility of 6.14%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The Aduro Biotech stock holds several negative signals and despite the positive trend we believe Aduro Biotech will perform weak 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 recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.