Chimerix Stock Forecast
Chimerix stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The Chimerix stock price gained 4.95% on the last trading day (Thursday, 28th Mar 2024), rising from $1.01 to $1.06. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.46% from a day low at $1.01 to a day high of $1.09. The price has risen in 6 of the last 10 days but is still down by -7.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 80 thousand more shares were traded than the day before. In total, 367 thousand shares were bought and sold for approximately $388.66 thousand.
The stock 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 20.45% during the next 3 months and, with a 90% probability hold a price between $1.17 and $1.58 at the end of this 3-month period.
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CMRX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 10.88%. Further rise is indicated until a new top pivot has been found. Chimerix has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chimerix stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.11. On a fall, the stock will find some support from the short-term average at $1.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Chimerix stock
Chimerix finds support from accumulated volume at $1.05 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 much during the 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 $0.0850 between high and low, or 8.46%. For the last week, the stock has had daily average volatility of 6.17%.
Our recommended stop-loss: $1.01 (-4.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CMRX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Chimerix to open at $1.05, and during the day (based on 14 day Average True Range), to move between $0.99 and $1.13, which gives a possible trading interval of +/-$0.0703 (+/-6.63%) up or down from last closing price. If Chimerix takes out the full calculated possible swing range there will be an estimated 13.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.05 (0.94%) than the resistance at $1.15 (8.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chimerix stock A Buy?
Chimerix holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.185 Hold/Accumulate Upgraded
Predicted Opening Price for Chimerix of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.05 ( 0.786%) | $1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMRX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.14 | 7.23 % | |
R2 | 1.10 | 4.17 % | ||
R1 | 1.08 | 2.28 % | ||
Current price: | 1.06 | |||
Support | S1 | 1.02 | -3.85 % | |
S2 | 1.00 | -5.74 % | ||
S3 | 0.97 | -8.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.18 | 11.32 % | |
R2 | 1.17 | 10.38 % | ||
R1 | 1.15 | 8.49 % | ||
Current price | 1.06 | |||
Support | S1 | 1.05 | -0.94% | |
S2 | 1.01 | -4.72% | ||
S3 | 0.96 | -9.43% |
FAQ
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