NuCana plc Stock Forecast
Green day on Tuesday for NuCana plc
(Updated on Apr 23, 2024)
The NuCana plc stock price gained 0.251% on the last trading day (Tuesday, 23rd Apr 2024), rising from $3.99 to $4.00. During the last trading day the stock fluctuated 8.11% from a day low at $3.82 to a day high of $4.13. The price has fallen in 5 of the last 10 days but is still up by 1584.92% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 37 thousand shares were bought and sold for approximately $148.96 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 has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.85, a level that may pose a second chance to hit a runner.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NCNA Signals & Forecast
The NuCana plc 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 $3.37 and $0.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2,147.19%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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, February 08, 2024 in the short-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
The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-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 NuCana plc stock
NuCana plc finds support from accumulated volume at $3.97 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.310 between high and low, or 8.11%. For the last week the stock has had daily average volatility of 12.00%.
The NuCana plc stock is extremely overbought on RSI14 (93). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $3.89 (-2.64%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (NCNA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect NuCana plc to open at $3.98, and during the day (based on 14 day Average True Range), to move between $3.59 and $4.41, which gives a possible trading interval of +/-$0.407 (+/-10.17%) up or down from last closing price. If NuCana plc takes out the full calculated possible swing range there will be an estimated 20.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.97, some $0.0300 (0.75%) from the current price of $4.00, our system finds the risk reward attractive.
Is NuCana plc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for NuCana plc stock to perform well in the short-term period.
Current score: 4.681 Buy Candidate Unchanged
Predicted Opening Price for NuCana plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.98 ( 0.416%) | $4.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.29 | 7.33 % | |
| R2 | 4.17 | 4.37 % | ||
| R1 | 4.10 | 2.54 % | ||
| Current price: | 4.00 | |||
| Support | S1 | 3.86 | -3.38 % | |
| S2 | 3.79 | -5.20 % | ||
| S3 | 3.67 | -8.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.00 | |||
| Support | S1 | 3.97 | -0.750% | |
| S2 | 3.90 | -2.50% | ||
| S3 | 3.79 | -5.25% |
FAQ
Click here for our free guide on how to buy NuCana plc Stock.
