Solid Biosciences Inc. Stock Forecast
High volatility in Solid Biosciences Inc. stock price on Wednesday which ended trading at $14.25
(Updated on Mar 27, 2024)
The Solid Biosciences Inc. stock price gained 5.01% on the last trading day (Wednesday, 27th Mar 2024), rising from $13.57 to $14.25. During the last trading day the stock fluctuated 14.08% from a day low at $13.14 to a day high of $14.99. The price has risen in 6 of the last 10 days and is up by 16.52% 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, 50 thousand more shares were traded than the day before. In total, 281 thousand shares were bought and sold for approximately $4.00 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 90.14% during the next 3 months and, with a 90% probability hold a price between $21.10 and $29.42 at the end of this 3-month period.
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SLDB Signals & Forecast
The Solid Biosciences Inc. 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 $13.68 and $10.70. A breakdown below any of these levels will issue sell signals. 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. 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, March 19, 2024, and so far it has fallen -3.39%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Solid Biosciences Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $13.08 and $12.23. 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, Solid Biosciences Inc. finds support just below today's level at $13.08. If this is broken, then the next support from accumulated volume will be at $12.23 and $11.14.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.85 between high and low, or 14.08%. For the last week, the stock has had daily average volatility of 11.35%.
Our recommended stop-loss: $13.61 (-4.49%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (SLDB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Solid Biosciences Inc. to open at $14.13, and during the day (based on 14 day Average True Range), to move between $12.91 and $15.59, which gives a possible trading interval of +/-$1.34 (+/-9.42%) up or down from last closing price. If Solid Biosciences Inc. takes out the full calculated possible swing range there will be an estimated 18.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.75 (3.51%) than the support at $13.08 (8.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Solid Biosciences Inc. 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 Solid Biosciences Inc. stock to perform well in the short-term.
Current score: 3.142 Buy Candidate Unchanged
Predicted Opening Price for Solid Biosciences Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$14.13 ( 0.87%) | $14.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLDB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.98 | 12.12 % | |
R2 | 15.27 | 7.16 % | ||
R1 | 14.83 | 4.09 % | ||
Current price: | 14.25 | |||
Support | S1 | 13.42 | -5.82 % | |
S2 | 12.98 | -8.89 % | ||
S3 | 12.28 | -13.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 14.75 | 3.51 % | ||
Current price | 14.25 | |||
Support | S1 | 13.08 | -8.21% | |
S2 | 12.23 | -14.18% | ||
S3 | 11.14 | -21.82% |
FAQ
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