Fri 20'th Oct 2017
Calithera Biosciences Stock Analysis
Technical stock analysis for Fri 20'th Oct 2017
Buy candidate since 2017-10-19 Loss -3.80%
Calithera Biosciences lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.36% during the next 3 months and, with 90% probability hold a price between $16.40 and $21.61 at the end of this period.
Calithera Biosciences holds a sales 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. On further gains, the stock will meet resistance from the short-term moving average at approximately $17.27. On a fall, the stock will find some support from the long-term average at approximately $16.30. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday October 17, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Calithera Biosciences finds support from accumulated volume at $15.90. On the upside the stock meets some resistance just above today's level from accumulated volume at $17.25, $17.35 and $17.60.
The stock is about to test the resistance from accumulated volume at $17.25 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $0.95 between high and low, or 5.81%. For the last week, the stock has had a daily average volatility of 4.85%.
Our recommended stoploss: $15.30 (-6.99%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 3 days ago.)
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
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