Mustang Bio Inc Stock Forecast
Volatile ride for Mustang Bio Inc stock price on Friday moving between $0.341 and $0.400
(Updated on Apr 19, 2024)
The Mustang Bio Inc stock price fell by -7.92% on the last day (Friday, 19th Apr 2024) from $0.371 to $0.342. During the last trading day the stock fluctuated 17.24% from a day low at $0.341 to a day high of $0.400. The price has fallen in 8 of the last 10 days and is down by -55.21% 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 -68 thousand shares and in total, 129 thousand shares were bought and sold for approximately $44.20 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.299 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -52.97% during the next 3 months and, with a 90% probability hold a price between $0.141 and $0.408 at the end of this 3-month period.
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MBIO Signals & Forecast
There are few to no technical positive signals at the moment. The Mustang Bio Inc 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 $0.410 and $0.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -11.04%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mustang Bio Inc 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 $0.0588 between high and low, or 17.24%. For the last week the stock has had daily average volatility of 25.96%.
Mustang Bio Inc is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MBIO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Mustang Bio Inc to open at $0.361, and during the day (based on 14 day Average True Range), to move between $0.239 and $0.445, which gives a possible trading interval of +/-$0.103 (+/-30.15%) up or down from last closing price. If Mustang Bio Inc takes out the full calculated possible swing range there will be an estimated 60.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.346, some $0.0046 (1.35%) from the current price of $0.342, our system finds the risk reward not very attractive.
Is Mustang Bio Inc stock A Buy?
Mustang Bio Inc 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: -6.606 Strong Sell Candidate Downgraded
Predicted Opening Price for Mustang Bio Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.361 ( 5.64%) | $0.342 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MBIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.420 | 22.85 % | |
| R2 | 0.397 | 16.28 % | ||
| R1 | 0.383 | 12.22 % | ||
| Current price: | 0.342 | |||
| Support | S1 | 0.338 | -0.94 % | |
| S2 | 0.325 | -5.00 % | ||
| S3 | 0.302 | -11.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.384 | 12.41 % | |
| R2 | 0.375 | 9.78 % | ||
| R1 | 0.346 | 1.35 % | ||
| Current price | 0.342 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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