Bio-Path Holdings Stock Forecast
High volatility in Bio-Path Holdings stock price on Wednesday which ended trading at $3.24
(Updated on Apr 17, 2024)
The Bio-Path Holdings stock price gained 6.23% on the last trading day (Wednesday, 17th Apr 2024), rising from $3.05 to $3.24. During the last trading day the stock fluctuated 15.90% from a day low at $2.99 to a day high of $3.47. The price has fallen in 8 of the last 10 days and is down by -24.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 686 thousand more shares were traded than the day before. In total, 702 thousand shares were bought and sold for approximately $2.28 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.10 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 125.37% during the next 3 months and, with a 90% probability hold a price between $6.98 and $19.62 at the end of this 3-month period.
BPTH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bio-Path Holdings 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 $3.24 and $4.63. 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 -49.69%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bio-Path Holdings stock
Bio-Path Holdings finds support from accumulated volume at $3.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.476 between high and low, or 15.90%. For the last week, the stock has had daily average volatility of 14.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BPTH) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Bio-Path Holdings to open at $3.23, and during the day (based on 14 day Average True Range), to move between $2.72 and $3.76, which gives a possible trading interval of +/-$0.516 (+/-15.91%) up or down from last closing price. If Bio-Path Holdings takes out the full calculated possible swing range there will be an estimated 31.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.15 (2.78%) than the resistance at $3.46 (6.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bio-Path Holdings stock A Buy?
The Bio-Path Holdings stock holds several negative signals and despite the positive trend, we believe Bio-Path Holdings will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.113 Sell Candidate Unchanged
Predicted Opening Price for Bio-Path Holdings of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$3.23 ( 0.168%) | $3.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPTH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.71 | 14.53 % | |
R2 | 3.53 | 8.91 % | ||
R1 | 3.42 | 5.45 % | ||
Current price: | 3.24 | |||
Support | S1 | 3.05 | -5.78 % | |
S2 | 2.94 | -9.25 % | ||
S3 | 2.76 | -14.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.02 | 24.07 % | |
R2 | 3.78 | 16.67 % | ||
R1 | 3.46 | 6.79 % | ||
Current price | 3.24 | |||
Support | S1 | 3.15 | -2.78% | |
S2 | 3.05 | -5.86% | ||
S3 | 2.94 | -9.26% |
FAQ
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