FibroGen Stock Forecast
FibroGen stock upgraded to Sell Candidate.
(Updated on Apr 16, 2024)
The FibroGen stock price fell by -0.763% on the last day (Tuesday, 16th Apr 2024) from $1.31 to $1.30. During the last trading day the stock fluctuated 8.00% from a day low at $1.25 to a day high of $1.35. The price has fallen in 6 of the last 10 days and is down by -39.81% 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 -388 thousand shares and in total, 844 thousand shares were bought and sold for approximately $1.10 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 $1.18 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 16.72% during the next 3 months and, with a 90% probability hold a price between $1.38 and $3.56 at the end of this 3-month period.
FGEN Signals & Forecast
There are few to no technical positive signals at the moment. 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 $1.41 and $1.94. 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 -52.38%. 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). 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 FibroGen stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.10. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.100 between high and low, or 8.00%. For the last week the stock has had daily average volatility of 9.48%.
FibroGen 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 (FGEN) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect FibroGen to open at $1.30, and during the day (based on 14 day Average True Range), to move between $1.05 and $1.55, which gives a possible trading interval of +/-$0.246 (+/-18.90%) up or down from last closing price. If FibroGen takes out the full calculated possible swing range there will be an estimated 37.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.47 (13.08%) than the support at $1.10 (15.38%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.693 Sell Candidate Upgraded
Predicted Opening Price for FibroGen of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
$1.30 ( 0%) | $1.30 |
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 | 1.40 | 7.69 % | |
R2 | 1.36 | 4.75 % | ||
R1 | 1.34 | 2.94 % | ||
Current price: | 1.30 | |||
Support | S1 | 1.26 | -2.94 % | |
S2 | 1.24 | -4.75 % | ||
S3 | 1.20 | -7.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.62 | 24.62 % | |
R2 | 1.58 | 21.54 % | ||
R1 | 1.47 | 13.08 % | ||
Current price | 1.30 | |||
Support | S1 | 1.10 | -15.38% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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