AVROBIO Inc Stock Forecast
Red day on Wednesday for AVROBIO Inc
(Updated on Apr 24, 2024)
The AVROBIO Inc stock price fell by -1.65% on the last day (Wednesday, 24th Apr 2024) from $1.21 to $1.19. During the last trading day the stock fluctuated 2.11% from a day low at $1.19 to a day high of $1.21. The price has fallen in 4 of the last 10 days and is down by -4.8% for this period. Volume has increased on the last day by 287 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, 340 thousand shares were bought and sold for approximately $404.99 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.33% during the next 3 months and, with a 90% probability hold a price between $1.02 and $1.23 at the end of this 3-month period.
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AVRO Signals & Forecast
There are few to no technical positive signals at the moment. The AVROBIO 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 $1.22 and $1.27. 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 -11.19%. 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). AVROBIO 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 AVROBIO Inc stock
AVROBIO Inc finds support from accumulated volume at $1.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0250 (2.11%) between high and low. For the last week, the stock has had daily average volatility of 3.19%.
AVROBIO Inc is oversold on RSI14 (23). 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 (AVRO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect AVROBIO Inc to open at $1.20, and during the day (based on 14 day Average True Range), to move between $1.14 and $1.24, which gives a possible trading interval of +/-$0.0475 (+/-3.99%) up or down from last closing price. If AVROBIO Inc takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.15 (3.36%) than the resistance at $1.26 (5.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AVROBIO Inc stock A Buy?
AVROBIO Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.077 Sell Candidate Unchanged
Predicted Opening Price for AVROBIO Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.20 ( 0.420%) | $1.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVRO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.22 | 2.52 % | |
| R2 | 1.21 | 1.72 % | ||
| R1 | 1.20 | 1.22 % | ||
| Current price: | 1.19 | |||
| Support | S1 | 1.19 | -0.382 % | |
| S2 | 1.18 | -0.88 % | ||
| S3 | 1.17 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.31 | 10.08 % | |
| R2 | 1.30 | 9.24 % | ||
| R1 | 1.26 | 5.88 % | ||
| Current price | 1.19 | |||
| Support | S1 | 1.15 | -3.36% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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