Sangamo BioSciences Stock Forecast
Sangamo BioSciences stock price fell more than -5.36% Wednesday closing at $0.493
(Updated on Apr 24, 2024)
The Sangamo BioSciences stock price fell by -5.36% on the last day (Wednesday, 24th Apr 2024) from $0.521 to $0.493. During the last trading day the stock fluctuated 6.73% from a day low at $0.490 to a day high of $0.523. The price has fallen in 6 of the last 10 days and is down by -5.92% 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 -1 million shares and in total, 1 million shares were bought and sold for approximately $567.72 thousand.
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 -12.78% during the next 3 months and, with a 90% probability hold a price between $0.213 and $1.09 at the end of this 3-month period.
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SGMO Signals & Forecast
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. The Sangamo BioSciences 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 $0.511 and $0.668. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 16, 2024, and so far it has fallen -64.28%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Sangamo BioSciences stock
Sangamo BioSciences finds support from accumulated volume at $0.485 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 $0.0330 between high and low, or 6.73%. For the last week the stock has had daily average volatility of 11.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SGMO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Sangamo BioSciences to open at $0.502, and during the day (based on 14 day Average True Range), to move between $0.425 and $0.561, which gives a possible trading interval of +/-$0.0681 (+/-13.81%) up or down from last closing price. If Sangamo BioSciences takes out the full calculated possible swing range there will be an estimated 27.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.485 (1.60%) than the resistance at $0.521 (5.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sangamo BioSciences stock A Buy?
Sangamo BioSciences 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: -5.839 Strong Sell Candidate Downgraded
Predicted Opening Price for Sangamo BioSciences of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.502 ( 1.83%) | $0.493 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.535 | 8.52 % | |
| R2 | 0.522 | 5.96 % | ||
| R1 | 0.515 | 4.38 % | ||
| Current price: | 0.493 | |||
| Support | S1 | 0.489 | -0.731 % | |
| S2 | 0.482 | -2.31 % | ||
| S3 | 0.469 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.560 | 13.59 % | |
| R2 | 0.545 | 10.59 % | ||
| R1 | 0.521 | 5.62 % | ||
| Current price | 0.493 | |||
| Support | S1 | 0.485 | -1.60% | |
| S2 | 0.457 | -7.30% | ||
| S3 | 0.424 | -14.10% |
FAQ
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