Anika Therapeutics Inc. Stock Forecast
Red day on Thursday for Anika Therapeutics Inc. stock after losing 0.548%
(Updated on Mar 28, 2024)
The Anika Therapeutics Inc. stock price fell by -0.548% on the last day (Thursday, 28th Mar 2024) from $25.54 to $25.40. During the last trading day the stock fluctuated 1.53% from a day low at $25.24 to a day high of $25.62. The price has risen in 6 of the last 10 days and is up by 3.5% over the past 2 weeks. Volume has increased on the last day by 23 thousand 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, 77 thousand shares were bought and sold for approximately $1.96 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $25.09 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.82% during the next 3 months and, with a 90% probability hold a price between $29.06 and $31.81 at the end of this 3-month period.
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ANIK Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -3.86%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Anika Therapeutics 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 $25.40. On a fall, the stock will find some support from the long-term average at approximately $25.04. 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.
Support, Risk & Stop-loss for Anika Therapeutics Inc. stock
Anika Therapeutics Inc. finds support from accumulated volume at $25.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.385 between high and low, or 1.53%. For the last week the stock has had daily average volatility of 1.74%.
Our recommended stop-loss: $24.58 (-3.23%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (ANIK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Anika Therapeutics Inc. to open at $25.42, and during the day (based on 14 day Average True Range), to move between $24.47 and $26.33, which gives a possible trading interval of +/-$0.93 (+/-3.65%) up or down from last closing price. If Anika Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.44 (0.16%) than the support at $25.26 (0.55%), 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 Anika Therapeutics Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.528 Buy Candidate Unchanged
Predicted Opening Price for Anika Therapeutics Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$25.42 ( 0.0722%) | $25.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANIK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.80 | 1.59 % | |
R2 | 25.66 | 1.01 % | ||
R1 | 25.57 | 0.651 % | ||
Current price: | 25.40 | |||
Support | S1 | 25.27 | -0.507 % | |
S2 | 25.18 | -0.86 % | ||
S3 | 25.03 | -1.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.42 | 4.02 % | |
R2 | 26.03 | 2.48 % | ||
R1 | 25.44 | 0.157 % | ||
Current price | 25.40 | |||
Support | S1 | 25.26 | -0.551% | |
S2 | 24.83 | -2.24% | ||
S3 | 24.54 | -3.39% |
FAQ
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