Spring Bank Pharmaceuticals Stock Forecast
Big movements in Spring Bank Pharmaceuticals stock price on Wednesday moving 33.36% between high and low
(Updated on Feb 03, 2021)
The Spring Bank Pharmaceuticals stock price gained 19.21% on the last trading day (Wednesday, 3rd Feb 2021), rising from $9.06 to $10.80. It has now gained 4 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 33.36% from a day low at $9.07 to a day high of $12.10. The price has risen in 6 of the last 10 days and is up by 9.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 236 thousand more shares were traded than the day before. In total, 290 thousand shares were bought and sold for approximately $3.13 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 118.52% during the next 3 months and, with a 90% probability hold a price between $19.15 and $35.12 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.
SBPH Signals & Forecast
Mostly positive signals in the chart today. The Spring Bank Pharmaceuticals stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $8.96 and $9.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 28, 2021, and so far it has risen 31.87%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Spring Bank Pharmaceuticals stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.07 and $9.69. 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, Spring Bank Pharmaceuticals finds support just below today's level at $10.07. If this is broken, then the next support from accumulated volume will be at $9.69 and $9.06.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.03 between high and low, or 33.36%. For the last week, the stock has had daily average volatility of 13.08%.
Our recommended stop-loss: $10.39 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (SBPH) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Spring Bank Pharmaceuticals to open at $10.66, and during the day (based on 14 day Average True Range), to move between $9.93 and $11.67, which gives a possible trading interval of +/-$0.87 (+/-8.02%) up or down from last closing price. If Spring Bank Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 16.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.07, some $0.730 (6.76%) from the current price of $10.80, our system finds the risk reward attractive.
Is Spring Bank Pharmaceuticals stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Spring Bank Pharmaceuticals stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.642 Buy Candidate Upgraded
Predicted Opening Price for Spring Bank Pharmaceuticals of Thursday, February 4, 2021
| Fair opening price February 4, 2021 | Current price |
|---|---|
| $10.66 ( 1.32%) | $10.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.68 | 26.71 % | |
| R2 | 12.53 | 16.00 % | ||
| R1 | 11.81 | 9.39 % | ||
| Current price: | 10.80 | |||
| Support | S1 | 9.50 | -12.02 % | |
| S2 | 8.79 | -18.64 % | ||
| S3 | 7.63 | -29.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.80 | |||
| Support | S1 | 10.07 | -6.76% | |
| S2 | 9.69 | -10.28% | ||
| S3 | 9.06 | -16.16% |
FAQ
Click here for our free guide on how to buy Spring Bank Pharmaceuticals Stock.
