GlycoMimetics Stock Forecast
GlycoMimetics stock price took a fall of -7.82% on Thursday
(Updated on Apr 25, 2024)
The GlycoMimetics stock price fell by -7.82% on the last day (Thursday, 25th Apr 2024) from $1.86 to $1.71. During the last trading day the stock fluctuated 6.81% from a day low at $1.70 to a day high of $1.81. The price has fallen in 7 of the last 10 days and is down by -31.74% 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 -110 thousand shares and in total, 546 thousand shares were bought and sold for approximately $933.85 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($2.02) are considered to be a "second chance" to get out. According to the fan-theory $1.22 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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GLYC Signals & Forecast
There are few to no technical positive signals at the moment. The GlycoMimetics 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 $1.94 and $2.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -46.23%. 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 GlycoMimetics stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.116 between high and low, or 6.81%. For the last week the stock has had daily average volatility of 10.84%.
GlycoMimetics is oversold on RSI14 (19). 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 (GLYC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect GlycoMimetics to open at $1.74, and during the day (based on 14 day Average True Range), to move between $1.50 and $1.92, which gives a possible trading interval of +/-$0.213 (+/-12.43%) up or down from last closing price. If GlycoMimetics takes out the full calculated possible swing range there will be an estimated 24.86% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.80, some $0.0900 (5.26%) from the current price of $1.71, our system finds the risk reward not very attractive.
Earnings coming up
GlycoMimetics will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for GlycoMimetics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.07% in the first trading day after earnings release.
Is GlycoMimetics stock A Buy?
GlycoMimetics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -6.583 Strong Sell Candidate Downgraded
Predicted Opening Price for GlycoMimetics of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.74 ( 1.67%) | $1.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLYC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.85 | 8.42 % | |
| R2 | 1.81 | 5.84 % | ||
| R1 | 1.78 | 4.25 % | ||
| Current price: | 1.71 | |||
| Support | S1 | 1.69 | -0.91 % | |
| S2 | 1.67 | -2.51 % | ||
| S3 | 1.62 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.93 | 12.57 % | |
| R2 | 1.84 | 7.31 % | ||
| R1 | 1.80 | 5.26 % | ||
| Current price | 1.71 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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