Avid Bioservices Inc. Stock Forecast
Avid Bioservices Inc. stock price ended at $6.52 on Thursday, after losing 2.83%.
(Updated on Apr 18, 2024)
The Avid Bioservices Inc. stock price fell by -2.83% on the last day (Thursday, 18th Apr 2024) from $6.71 to $6.52. During the last trading day the stock fluctuated 4.84% from a day low at $6.51 to a day high of $6.83. The price has been going up and down for this period, and there has been a 2.84% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -434 thousand shares and in total, 688 thousand shares were bought and sold for approximately $4.49 million.
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 $6.02 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.12% during the next 3 months and, with a 90% probability hold a price between $5.89 and $8.51 at the end of this 3-month period.
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CDMO Signals & Forecast
There are mixed signals in the stock today. The Avid Bioservices 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 $6.83 and $6.88. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 7.06%. 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).
Support, Risk & Stop-loss for Avid Bioservices Inc. stock
Avid Bioservices Inc. finds support from accumulated volume at $6.29 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 $0.315 between high and low, or 4.84%. For the last week, the stock has had daily average volatility of 7.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDMO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Avid Bioservices Inc. to open at $6.62, and during the day (based on 14 day Average True Range), to move between $6.02 and $7.02, which gives a possible trading interval of +/-$0.496 (+/-7.60%) up or down from last closing price. If Avid Bioservices Inc. takes out the full calculated possible swing range there will be an estimated 15.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.59 (1.07%) than the support at $6.29 (3.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Avid Bioservices Inc. will release earnings BMO on Monday, April 22, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0200. We will update the financials statements for Avid Bioservices Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.15% in the first trading day after earnings release.
Is Avid Bioservices Inc. stock A Buy?
Avid Bioservices Inc. 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: -1.890 Sell Candidate Unchanged
Predicted Opening Price for Avid Bioservices Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $6.62 ( 1.51%) | $6.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.93 | 6.34 % | |
| R2 | 6.81 | 4.49 % | ||
| R1 | 6.74 | 3.35 % | ||
| Current price: | 6.52 | |||
| Support | S1 | 6.50 | -0.337 % | |
| S2 | 6.42 | -1.48 % | ||
| S3 | 6.30 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.71 | 2.91 % | |
| R2 | 6.60 | 1.23 % | ||
| R1 | 6.59 | 1.07 % | ||
| Current price | 6.52 | |||
| Support | S1 | 6.29 | -3.53% | |
| S2 | 6.25 | -4.14% | ||
| S3 | 6.10 | -6.44% |
CDMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2018 | Mar 16, 2018 | Apr 02, 2018 | $0.656 | 19.76% |
FAQ
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