CASI Pharmaceuticals Stock Forecast
Red day on Thursday for CASI Pharmaceuticals stock after losing 0%
(Updated on Apr 18, 2024)
No changes to the price of CASI Pharmaceuticals stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 9.26% from a day low at $2.16 to a day high of $2.36. The price has fallen in 8 of the last 10 days and is down by -32.33% for this period.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.17 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -56.95% during the next 3 months and, with a 90% probability hold a price between $0.93 and $1.51 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CASI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The CASI Pharmaceuticals 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 $2.50 and $3.60. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for CASI Pharmaceuticals stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.200 between high and low, or 9.26%. For the last week, the stock has had daily average volatility of 9.90%.
CASI Pharmaceuticals is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CASI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect CASI Pharmaceuticals to open at $2.25, and during the day (based on 14 day Average True Range), to move between $1.93 and $2.55, which gives a possible trading interval of +/-$0.311 (+/-13.89%) up or down from last closing price. If CASI Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 27.79% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.34, some $0.1000 (4.46%) from the current price of $2.24, our system finds the risk reward not very attractive.
Is CASI Pharmaceuticals stock A Buy?
CASI Pharmaceuticals holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -5.330 Strong Sell Candidate Unchanged
Predicted Opening Price for CASI Pharmaceuticals of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $2.25 ( 0.595%) | $2.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CASI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.45 | 9.52 % | |
| R2 | 2.38 | 6.11 % | ||
| R1 | 2.33 | 4.01 % | ||
| Current price: | 2.24 | |||
| Support | S1 | 2.18 | -2.82 % | |
| S2 | 2.13 | -4.92 % | ||
| S3 | 2.05 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.65 | 18.30 % | |
| R2 | 2.60 | 16.07 % | ||
| R1 | 2.34 | 4.46 % | ||
| Current price | 2.24 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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