Kodiak Sciences Inc. Stock Forecast
Kodiak Sciences Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Kodiak Sciences Inc. stock price gained 1.02% on the last trading day (Tuesday, 7th May 2024), rising from $3.94 to $3.98. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.21% from a day low at $3.84 to a day high of $4.08. The price has risen in 8 of the last 10 days and is up by 19.52% over the past 2 weeks. Volume fell on the last day by -60 thousand shares and in total, 424 thousand shares were bought and sold for approximately $1.69 million. 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 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 -29.86% during the next 3 months and, with a 90% probability hold a price between $1.99 and $4.37 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KOD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 24.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kodiak Sciences 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 $4.36. On a fall, the stock will find some support from the short-term average at $3.64. 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.
Support, Risk & Stop-loss for Kodiak Sciences Inc. stock
Kodiak Sciences Inc. finds support from accumulated volume at $3.87 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.238 between high and low, or 6.21%. For the last week, the stock has had daily average volatility of 8.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KOD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Kodiak Sciences Inc. to open at $3.97, and during the day (based on 14 day Average True Range), to move between $3.64 and $4.32, which gives a possible trading interval of +/-$0.336 (+/-8.44%) up or down from last closing price. If Kodiak Sciences Inc. takes out the full calculated possible swing range there will be an estimated 16.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.87 (2.76%) than the resistance at $4.33 (8.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kodiak Sciences Inc. stock A Buy?
Kodiak Sciences 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.004 Sell Candidate Downgraded
Predicted Opening Price for Kodiak Sciences Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $3.97 ( 0.322%) | $3.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.21 | 5.67 % | |
| R2 | 4.11 | 3.38 % | ||
| R1 | 4.06 | 1.97 % | ||
| Current price: | 3.98 | |||
| Support | S1 | 3.88 | -2.61 % | |
| S2 | 3.82 | -4.02 % | ||
| S3 | 3.73 | -6.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.85 | 21.86 % | |
| R2 | 4.45 | 11.81 % | ||
| R1 | 4.33 | 8.79 % | ||
| Current price | 3.98 | |||
| Support | S1 | 3.87 | -2.76% | |
| S2 | 3.60 | -9.55% | ||
| S3 | 3.36 | -15.58% |
FAQ
Click here for our free guide on how to buy Kodiak Sciences Inc. Stock.
