FibroGen Stock Forecast
Big movements in FibroGen stock price on Monday moving 10.48% between high and low
(Updated on Apr 15, 2024)
The FibroGen stock price gained 0.769% on the last trading day (Monday, 15th Apr 2024), rising from $1.30 to $1.31. During the last trading day the stock fluctuated 10.48% from a day low at $1.24 to a day high of $1.37. The price has fallen in 6 of the last 10 days and is down by -44.49% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 99 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $1.61 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.31 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.98% during the next 3 months and, with a 90% probability hold a price between $1.61 and $3.87 at the end of this 3-month period.
FGEN Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FibroGen 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 $1.45 and $1.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 09, 2024, and so far it has fallen -52.01%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for FibroGen stock
FibroGen finds support from accumulated volume at $1.30 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.130 between high and low, or 10.48%. For the last week, the stock has had daily average volatility of 9.83%.
FibroGen is oversold on RSI14 (16). 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 (FGEN) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect FibroGen to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.05 and $1.57, which gives a possible trading interval of +/-$0.256 (+/-19.57%) up or down from last closing price. If FibroGen takes out the full calculated possible swing range there will be an estimated 39.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.30 (0.76%) than the resistance at $1.47 (12.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FibroGen stock A Buy?
The FibroGen stock holds several negative signals and despite the positive trend, we believe FibroGen will perform weakly in the next couple of days or weeks. Therefore, we 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 Sell to a Strong Sell candidate.
Current score: -5.315 Strong Sell Candidate Downgraded
Predicted Opening Price for FibroGen of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $1.31 ( 0.254%) | $1.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FGEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.44 | 9.67 % | |
| R2 | 1.39 | 5.88 % | ||
| R1 | 1.36 | 3.54 % | ||
| Current price: | 1.31 | |||
| Support | S1 | 1.26 | -4.05 % | |
| S2 | 1.23 | -6.39 % | ||
| S3 | 1.18 | -10.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.62 | 23.66 % | |
| R2 | 1.58 | 20.61 % | ||
| R1 | 1.47 | 12.21 % | ||
| Current price | 1.31 | |||
| Support | S1 | 1.30 | -0.763% | |
| S2 | 1.10 | -16.03% | ||
| S3 | 0 | . |
FAQ
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