RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CYTK
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Cytokinetics stock downgraded to Hold/Accumulate
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 26, 2024 Gain 0.37% PDF

The Cytokinetics stock price gained 0.365% on the last trading day (Wednesday, 27th Mar 2024), rising from $71.15 to $71.41. It has now gained 4 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 4.72% from a day low at $69.88 to a day high of $73.18. The price has risen in 6 of the last 10 days and is up by 10.49% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $134.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a very 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 -24.72% during the next 3 months and, with a 90% probability hold a price between $44.95 and $62.77 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.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

CYTK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 12.02%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cytokinetics 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 $71.60. On a fall, the stock will find some support from the short-term average at $68.53. 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.

Support, Risk & Stop-loss for Cytokinetics stock

On the downside, the stock finds support just below today's level from accumulated volume at $67.68 and $65.19. 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, Cytokinetics finds support just below today's level at $67.68. If this is broken, then the next support from accumulated volume will be at $65.19 and $63.75.

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 $3.30 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 5.26%.

Our recommended stop-loss: $69.15 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (CYTK) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Cytokinetics to open at $71.49, and during the day (based on 14 day Average True Range), to move between $67.63 and $75.19, which gives a possible trading interval of +/-$3.78 (+/-5.29%) up or down from last closing price. If Cytokinetics takes out the full calculated possible swing range there will be an estimated 10.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $67.68 (5.22%) than the resistance at $83.24 (16.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cytokinetics stock A Buy?

Cytokinetics 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.253 Hold/Accumulate Downgraded

Predicted Opening Price for Cytokinetics of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$71.49 ( 0.112%) $71.41

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CYTK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 74.79 4.73 %
R2 73.53 2.97 %
R1 72.75 1.88 %
Current price: 71.41
Support S1 70.23 -1.65 %
S2 69.45 -2.74 %
S3 68.19 -4.51 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 84.95 18.96 %
R2 83.49 16.92 %
R1 83.24 16.57 %
Current price 71.41
Support S1 67.68 -5.22%
S2 65.19 -8.71%
S3 63.75 -10.73%

FAQ

What is the symbol for Cytokinetics Stock and on which exchange is it traded?
The symbol for Cytokinetics is CYTK and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Cytokinetics Stock?
Cytokinetics 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Cytokinetics Stock?
Cytokinetics Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Cytokinetics Stock.

What's the current price of Cytokinetics Stock?
As of the end of day on the 2024-03-27, the price of an Cytokinetics (CYTK) share was $71.41.

What is the 52-week high and low for Cytokinetics Stock?
The 52-week high for Cytokinetics Stock is $110.00 and the 52-week low is $25.98.

What is the market capitalization of Cytokinetics Stock?
As of the 2024-03-27, the market capitalization of Cytokinetics is 7.329B.

When is the next earnings date for Cytokinetics?
The upcoming earnings date for Cytokinetics is May 02, 2024.
Click to get the best stock tips daily for free!

About Cytokinetics

Cytokinetics Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility. Its drug candidates include omecamtiv mecarbil, a novel cardiac myosin activator that is in Phase III clinical trial in pati... CYTK Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT