Cocrystal Pharma Inc Stock Forecast
Evaluation of Cocrystal Pharma Inc stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Cocrystal Pharma Inc stock price gained 2.33% on the last trading day (Friday, 19th Apr 2024), rising from $1.50 to $1.53. During the last trading day the stock fluctuated 8.10% from a day low at $1.48 to a day high of $1.60. The price has fallen in 6 of the last 10 days and is down by -4.08% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $14.65 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.87% during the next 3 months and, with a 90% probability hold a price between $1.31 and $1.50 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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COCP Signals & Forecast
The Cocrystal Pharma Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.47 and $1.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 8.67%. 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). Cocrystal Pharma Inc 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. The very low volume increases the risk and reduces the other technical signals issued. Despite all the positive signals in the chart we there to be so much uncertainty and risk that we cannot upgrade this stock's score yet.
Support, Risk & Stop-loss for Cocrystal Pharma Inc stock
Cocrystal Pharma Inc finds support from accumulated volume at $1.50 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 $0.120 between high and low, or 8.10%. For the last week, the stock has had daily average volatility of 7.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COCP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Cocrystal Pharma Inc to open at $1.54, and during the day (based on 14 day Average True Range), to move between $1.42 and $1.64, which gives a possible trading interval of +/-$0.110 (+/-7.20%) up or down from last closing price. If Cocrystal Pharma Inc takes out the full calculated possible swing range there will be an estimated 14.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.54 (0.66%) than the support at $1.50 (1.95%), 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.
Is Cocrystal Pharma Inc stock A Buy?
Cocrystal Pharma 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.158 Sell Candidate Downgraded
Predicted Opening Price for Cocrystal Pharma Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.54 ( 0.438%) | $1.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COCP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.66 | 8.28 % | |
| R2 | 1.61 | 5.28 % | ||
| R1 | 1.58 | 3.43 % | ||
| Current price: | 1.53 | |||
| Support | S1 | 1.49 | -2.56 % | |
| S2 | 1.46 | -4.41 % | ||
| S3 | 1.42 | -7.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.60 | 4.26 % | |
| R2 | 1.58 | 3.27 % | ||
| R1 | 1.54 | 0.660 % | ||
| Current price | 1.53 | |||
| Support | S1 | 1.50 | -1.95% | |
| S2 | 1.47 | -3.92% | ||
| S3 | 1.40 | -8.49% |
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