Iovance Biotherapeutics, Inc. Stock Forecast
Iovance Biotherapeutics, Inc. stock price ended at $11.86 on Tuesday, after gaining 4.77%.
(Updated on Apr 23, 2024)
The Iovance Biotherapeutics, Inc. stock price gained 4.77% on the last trading day (Tuesday, 23rd Apr 2024), rising from $11.32 to $11.86. During the last trading day the stock fluctuated 4.91% from a day low at $11.41 to a day high of $11.97. The price has fallen in 6 of the last 10 days and is down by -10.29% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $45.20 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 $11.40 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 30.30% during the next 3 months and, with a 90% probability hold a price between $14.85 and $26.66 at the end of this 3-month period.
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IOVA Signals & Forecast
There are mixed signals in the stock today. The Iovance Biotherapeutics, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.85. On a fall, the stock will find some support from the short-term average at $11.69. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -32.11%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Iovance Biotherapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.95 and $9.18. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Iovance Biotherapeutics, Inc. finds support just below today's level at $9.95. If this is broken, then the next support from accumulated volume will be at $9.18 and $9.15.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.560 between high and low, or 4.91%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IOVA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Iovance Biotherapeutics, Inc. to open at $11.75, and during the day (based on 14 day Average True Range), to move between $11.07 and $12.65, which gives a possible trading interval of +/-$0.794 (+/-6.69%) up or down from last closing price. If Iovance Biotherapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 13.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.03 (1.43%) than the support at $9.95 (16.10%), 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 Iovance Biotherapeutics, Inc. stock A Buy?
Iovance Biotherapeutics, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.829 Sell Candidate Unchanged
Predicted Opening Price for Iovance Biotherapeutics, Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $11.75 ( 0.96%) | $11.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOVA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.31 | 3.77 % | |
| R2 | 12.09 | 1.96 % | ||
| R1 | 11.96 | 0.85 % | ||
| Current price: | 11.86 | |||
| Support | S1 | 11.53 | -2.76 % | |
| S2 | 11.40 | -3.87 % | ||
| S3 | 11.19 | -5.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.72 | 24.11 % | |
| R2 | 13.91 | 17.28 % | ||
| R1 | 12.03 | 1.43 % | ||
| Current price | 11.86 | |||
| Support | S1 | 9.95 | -16.10% | |
| S2 | 9.18 | -22.60% | ||
| S3 | 9.15 | -22.85% |
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