CytomX Therapeutics Stock Forecast
Red day on Thursday for CytomX Therapeutics
(Updated on Apr 18, 2024)
The CytomX Therapeutics stock price fell by -1.70% on the last day (Thursday, 18th Apr 2024) from $1.76 to $1.73. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.92% from a day low at $1.72 to a day high of $1.79. The price has fallen in 5 of the last 10 days and is down by -16.02% for this period. 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 -386 thousand shares and in total, 199 thousand shares were bought and sold for approximately $343.81 thousand.
Given the current short-term trend, the stock is expected to rise 30.89% during the next 3 months and, with a 90% probability hold a price between $2.26 and $4.08 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTMX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The CytomX Therapeutics 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 $1.96 and $2.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -36.86%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for CytomX Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.61 and $1.53. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CytomX Therapeutics finds support just below today's level at $1.61. If this is broken, then the next support from accumulated volume will be at $1.53 and $1.50.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0675 between high and low, or 3.92%. For the last week the stock has had daily average volatility of 7.12%.
CytomX Therapeutics is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTMX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect CytomX Therapeutics to open at $1.75, and during the day (based on 14 day Average True Range), to move between $1.59 and $1.87, which gives a possible trading interval of +/-$0.143 (+/-8.26%) up or down from last closing price. If CytomX Therapeutics takes out the full calculated possible swing range there will be an estimated 16.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.61 (6.94%) than the resistance at $2.06 (19.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CytomX Therapeutics stock A Buy?
The CytomX Therapeutics stock holds several negative signals and despite the positive trend, we believe CytomX Therapeutics will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.588 Sell Candidate Unchanged
Predicted Opening Price for CytomX Therapeutics of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.75 ( 0.92%) | $1.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTMX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.81 | 4.82 % | |
| R2 | 1.79 | 3.33 % | ||
| R1 | 1.77 | 2.41 % | ||
| Current price: | 1.73 | |||
| Support | S1 | 1.72 | -0.575 % | |
| S2 | 1.70 | -1.50 % | ||
| S3 | 1.68 | -2.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.15 | 24.28 % | |
| R2 | 2.10 | 21.39 % | ||
| R1 | 2.06 | 19.08 % | ||
| Current price | 1.73 | |||
| Support | S1 | 1.61 | -6.94% | |
| S2 | 1.53 | -11.56% | ||
| S3 | 1.50 | -13.29% |
FAQ
Click here for our free guide on how to buy CytomX Therapeutics Stock.
