Galmed Pharmaceuticals Ltd. Stock Forecast
Galmed Pharmaceuticals Ltd. stock price ended at $0.392 on Friday, after losing 0.229%.
(Updated on Apr 26, 2024)
The Galmed Pharmaceuticals Ltd. stock price fell by -0.229% on the last day (Friday, 26th Apr 2024) from $0.393 to $0.392. During the last trading day the stock fluctuated 5.87% from a day low at $0.373 to a day high of $0.395. The price has fallen in 7 of the last 10 days and is down by -6.54% 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 -6 thousand shares and in total, 27 thousand shares were bought and sold for approximately $10.59 thousand.
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 -2.44% during the next 3 months and, with a 90% probability hold a price between $0.293 and $0.407 at the end of this 3-month period.
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GLMD Signals & Forecast
The Galmed Pharmaceuticals Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.380 and $0.355. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -6.65%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Galmed Pharmaceuticals Ltd. stock
Galmed Pharmaceuticals Ltd. finds support from accumulated volume at $0.380 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0219 between high and low, or 5.87%. For the last week the stock has had daily average volatility of 7.59%.
Our recommended stop-loss: $0.371 (-5.22%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (GLMD) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Galmed Pharmaceuticals Ltd. to open at $0.387, and during the day (based on 14 day Average True Range), to move between $0.359 and $0.424, which gives a possible trading interval of +/-$0.0328 (+/-8.38%) up or down from last closing price. If Galmed Pharmaceuticals Ltd. takes out the full calculated possible swing range there will be an estimated 16.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.396 (1.10%) than the support at $0.380 (2.96%), 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 Galmed Pharmaceuticals Ltd. stock A Buy?
Galmed Pharmaceuticals Ltd. 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.
Current score: 0.372 Hold/Accumulate Unchanged
Predicted Opening Price for Galmed Pharmaceuticals Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.387 ( 1.30%) | $0.392 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.408 | 4.29 % | |
| R2 | 0.400 | 2.15 % | ||
| R1 | 0.395 | 0.83 % | ||
| Current price: | 0.392 | |||
| Support | S1 | 0.378 | -3.44 % | |
| S2 | 0.373 | -4.76 % | ||
| S3 | 0.365 | -6.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.410 | 4.70 % | |
| R2 | 0.400 | 2.15 % | ||
| R1 | 0.396 | 1.10 % | ||
| Current price | 0.392 | |||
| Support | S1 | 0.380 | -2.96% | |
| S2 | 0.339 | -13.41% | ||
| S3 | 0.305 | -22.09% |
FAQ
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