Knight Therapeutics Inc. Stock Forecast
Knight Therapeutics Inc. stock price up 0.174% on Tuesday
(Updated on Apr 16, 2024)
The Knight Therapeutics Inc. stock price gained 0.174% on the last trading day (Tuesday, 16th Apr 2024), rising from $5.76 to $5.77. During the last trading day the stock fluctuated 2.11% from a day low at $5.70 to a day high of $5.82. The price has risen in 8 of the last 10 days and is up by 9.7% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 56 thousand shares were bought and sold for approximately $323.20 thousand. 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $5.87 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Knight Therapeutics Inc. stock with a 90% probability to be traded between $5.16 and $5.81 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
GUD.TO Signals & Forecast
The Knight Therapeutics Inc. 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 $5.72 and $5.45. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -1.70%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Thursday, June 29, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 29, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Knight Therapeutics Inc. stock
Knight Therapeutics Inc. finds support from accumulated volume at $5.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.120 between high and low, or 2.11%. For the last week the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: $5.55 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (GUD.TO) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Knight Therapeutics Inc. to open at $5.76, and during the day (based on 14 day Average True Range), to move between $5.62 and $5.92, which gives a possible trading interval of +/-$0.148 (+/-2.57%) up or down from last closing price. If Knight Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.82 (0.87%) than the support at $5.51 (4.51%), 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 Knight Therapeutics Inc. stock A Buy?
Knight Therapeutics Inc. 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: -0.447 Hold/Accumulate Unchanged
Predicted Opening Price for Knight Therapeutics Inc. of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
$5.76 ( 0.116%) | $5.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GUD.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.88 | 1.96 % | |
R2 | 5.84 | 1.17 % | ||
R1 | 5.81 | 0.679 % | ||
Current price: | 5.77 | |||
Support | S1 | 5.72 | -0.91 % | |
S2 | 5.69 | -1.40 % | ||
S3 | 5.64 | -2.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 5.87 | 1.73 % | ||
R1 | 5.82 | 0.87 % | ||
Current price | 5.77 | |||
Support | S1 | 5.51 | -4.51% | |
S2 | 5.44 | -5.72% | ||
S3 | 5.25 | -9.01% |
FAQ
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