LEAP THERAPEUTICS INC. Stock Forecast
LEAP THERAPEUTICS INC. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The LEAP THERAPEUTICS INC. stock price gained 0.671% on the last trading day (Wednesday, 17th Apr 2024), rising from $2.98 to $3.00. During the last trading day the stock fluctuated 7.20% from a day low at $2.92 to a day high of $3.14. The price has risen in 6 of the last 10 days and is up by 18.58% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 146 thousand shares were bought and sold for approximately $439.09 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 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 -11.39% during the next 3 months and, with a 90% probability hold a price between $1.77 and $2.98 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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LPTX Signals & Forecast
The LEAP THERAPEUTICS INC. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.11. On a fall, the stock will find some support from the long-term average at approximately $2.64. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 09, 2024, and so far it has fallen -12.02%. 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.
Support, Risk & Stop-loss for LEAP THERAPEUTICS INC. stock
LEAP THERAPEUTICS INC. finds support from accumulated volume at $2.90 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 $0.211 between high and low, or 7.20%. For the last week the stock has had daily average volatility of 20.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LPTX) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect LEAP THERAPEUTICS INC. to open at $3.02, and during the day (based on 14 day Average True Range), to move between $2.62 and $3.38, which gives a possible trading interval of +/-$0.379 (+/-12.62%) up or down from last closing price. If LEAP THERAPEUTICS INC. takes out the full calculated possible swing range there will be an estimated 25.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.90 (3.33%) than the resistance at $3.12 (3.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LEAP THERAPEUTICS INC. stock A Buy?
LEAP THERAPEUTICS 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: -1.796 Sell Candidate Downgraded
Predicted Opening Price for LEAP THERAPEUTICS INC. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $3.02 ( 0.661%) | $3.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LPTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.23 | 7.68 % | |
| R2 | 3.15 | 5.00 % | ||
| R1 | 3.10 | 3.34 % | ||
| Current price: | 3.00 | |||
| Support | S1 | 2.94 | -2.02 % | |
| S2 | 2.89 | -3.68 % | ||
| S3 | 2.81 | -6.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.41 | 13.67 % | |
| R2 | 3.24 | 8.00 % | ||
| R1 | 3.12 | 3.83 % | ||
| Current price | 3.00 | |||
| Support | S1 | 2.90 | -3.33% | |
| S2 | 2.85 | -5.00% | ||
| S3 | 2.66 | -11.33% |
FAQ
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