Sutro Biopharma Inc. Stock Forecast
Red day on Thursday for Sutro Biopharma Inc. stock after losing 1.44%
(Updated on Apr 25, 2024)
The Sutro Biopharma Inc. stock price fell by -1.44% on the last day (Thursday, 25th Apr 2024) from $3.47 to $3.42. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.15% from a day low at $3.30 to a day high of $3.47. The price has fallen in 8 of the last 10 days and is down by -24% 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 -8 thousand shares and in total, 519 thousand shares were bought and sold for approximately $1.77 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.99 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.68% during the next 3 months and, with a 90% probability hold a price between $2.61 and $4.72 at the end of this 3-month period.
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STRO Signals & Forecast
There are few to no technical positive signals at the moment. The Sutro Biopharma 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 $3.65 and $4.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -39.47%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sutro Biopharma Inc. stock
Sutro Biopharma Inc. finds support from accumulated volume at $3.40 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 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 $0.170 between high and low, or 5.15%. For the last week, the stock has had daily average volatility of 6.76%.
Sutro Biopharma Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STRO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Sutro Biopharma Inc. to open at $3.40, and during the day (based on 14 day Average True Range), to move between $3.06 and $3.78, which gives a possible trading interval of +/-$0.356 (+/-10.41%) up or down from last closing price. If Sutro Biopharma Inc. takes out the full calculated possible swing range there will be an estimated 20.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.40 (0.58%) than the resistance at $4.11 (20.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sutro Biopharma Inc. stock A Buy?
Sutro Biopharma Inc. 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.
Current score: -5.489 Strong Sell Candidate Unchanged
Predicted Opening Price for Sutro Biopharma Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $3.40 ( 0.682%) | $3.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STRO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.57 | 4.29 % | |
| R2 | 3.50 | 2.39 % | ||
| R1 | 3.46 | 1.22 % | ||
| Current price: | 3.42 | |||
| Support | S1 | 3.33 | -2.58 % | |
| S2 | 3.29 | -3.75 % | ||
| S3 | 3.23 | -5.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.18 | 22.22 % | |
| R2 | 4.14 | 21.05 % | ||
| R1 | 4.11 | 20.18 % | ||
| Current price | 3.42 | |||
| Support | S1 | 3.40 | -0.585% | |
| S2 | 3.27 | -4.39% | ||
| S3 | 0 | . |
FAQ
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