Bellerophon Therapeutics Stock Forecast
Volatile ride for Bellerophon Therapeutics stock price on Wednesday moving between $0.0522 and $0.0612
(Updated on Apr 24, 2024)
The Bellerophon Therapeutics stock price fell by -7.68% on the last day (Wednesday, 24th Apr 2024) from $0.0586 to $0.0541. During the last trading day the stock fluctuated 17.21% from a day low at $0.0522 to a day high of $0.0612. The price has fallen in 5 of the last 10 days and is down by -9.83% for this period. Volume has increased on the last day by 42 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, 47 thousand shares were bought and sold for approximately $2.54 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 -3.70% during the next 3 months and, with a 90% probability hold a price between $0.0465 and $0.0574 at the end of this 3-month period.
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BLPH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bellerophon Therapeutics 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 $0.0549 and $0.0551. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -9.83%. Further fall is indicated until a new bottom pivot has been found. Bellerophon Therapeutics 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". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Wednesday, April 10, 2024 with a target of $0.0578. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Bellerophon Therapeutics stock
Bellerophon Therapeutics finds support from accumulated volume at $0.0535 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0090 between high and low, or 17.21%. For the last week, the stock has had daily average volatility of 7.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLPH) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Bellerophon Therapeutics to open at $0.0558, and during the day (based on 14 day Average True Range), to move between $0.0488 and $0.0594, which gives a possible trading interval of +/-$0.0053 (+/-9.82%) up or down from last closing price. If Bellerophon Therapeutics takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0535 (1.11%) than the resistance at $0.0550 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bellerophon Therapeutics stock A Buy?
Bellerophon Therapeutics 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. 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 Sell candidate.
Current score: -2.430 Sell Candidate Downgraded
Predicted Opening Price for Bellerophon Therapeutics of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0558 ( 3.19%) | $0.0541 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0648 | 19.80 % | |
| R2 | 0.0614 | 13.46 % | ||
| R1 | 0.0593 | 9.54 % | ||
| Current price: | 0.0541 | |||
| Support | S1 | 0.0524 | -3.15 % | |
| S2 | 0.0503 | -7.07 % | ||
| S3 | 0.0468 | -13.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0640 | 18.30 % | |
| R2 | 0.0610 | 12.75 % | ||
| R1 | 0.0550 | 1.66 % | ||
| Current price | 0.0541 | |||
| Support | S1 | 0.0535 | -1.11% | |
| S2 | 0.0533 | -1.57% | ||
| S3 | 0.0510 | -5.73% |
FAQ
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