Soleno Therapeutics Inc Stock Forecast
Soleno Therapeutics Inc stock price ended at $42.85 on Wednesday, after losing 0.81%.
(Updated on Mar 27, 2024)
The Soleno Therapeutics Inc stock price fell by -0.81% on the last day (Wednesday, 27th Mar 2024) from $43.20 to $42.85. During the last trading day the stock fluctuated 3.44% from a day low at $42.70 to a day high of $44.17. The price has fallen in 6 of the last 10 days and is down by -2.57% for this period. Volume has increased on the last day by 49 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 249 thousand shares were bought and sold for approximately $10.69 million.
The stock lies in the middle of a very wide and weak 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 6.86% during the next 3 months and, with a 90% probability hold a price between $42.01 and $57.21 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.
SLNO Signals & Forecast
There are few to no technical positive signals at the moment. The Soleno Therapeutics 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 $42.96 and $46.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -18.15%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Soleno Therapeutics Inc stock
Soleno Therapeutics Inc finds support from accumulated volume at $42.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.47 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 5.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLNO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Soleno Therapeutics Inc to open at $43.24, and during the day (based on 14 day Average True Range), to move between $40.42 and $45.28, which gives a possible trading interval of +/-$2.43 (+/-5.67%) up or down from last closing price. If Soleno Therapeutics Inc takes out the full calculated possible swing range there will be an estimated 11.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.46 (1.42%) than the support at $42.20 (1.52%), 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 Soleno Therapeutics Inc stock A Buy?
The Soleno Therapeutics Inc stock holds several negative signals and despite the positive trend, we believe Soleno Therapeutics Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.931 Sell Candidate Unchanged
Predicted Opening Price for Soleno Therapeutics Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$43.24 ( 0.91%) | $42.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLNO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.71 | 4.34 % | |
R2 | 44.15 | 3.03 % | ||
R1 | 43.80 | 2.22 % | ||
Current price: | 42.85 | |||
Support | S1 | 42.68 | -0.400 % | |
S2 | 42.33 | -1.21 % | ||
S3 | 41.77 | -2.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.95 | 4.89 % | |
R2 | 44.88 | 4.74 % | ||
R1 | 43.46 | 1.42 % | ||
Current price | 42.85 | |||
Support | S1 | 42.20 | -1.52% | |
S2 | 42.13 | -1.68% | ||
S3 | 37.15 | -13.30% |
FAQ
Click here for our free guide on how to buy Soleno Therapeutics Inc Stock.