WAVE Life Sciences Ltd. Stock Forecast
WAVE Life Sciences Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The WAVE Life Sciences Ltd. stock price fell by -1.69% on the last day (Friday, 26th Apr 2024) from $4.74 to $4.66. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.66% from a day low at $4.64 to a day high of $4.81. The price has fallen in 7 of the last 10 days and is down by -19.66% for this period. Volume has increased on the last day by 18 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, 397 thousand shares were bought and sold for approximately $1.85 million.
Given the current short-term trend, the stock is expected to rise 29.36% during the next 3 months and, with a 90% probability hold a price between $6.03 and $9.97 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.
WVE Signals & Forecast
There are few to no technical positive signals at the moment. The WAVE Life Sciences Ltd. 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 $4.86 and $5.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -31.82%. 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 WAVE Life Sciences Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.00 and $3.91. 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, WAVE Life Sciences Ltd. finds support just below today's level at $4.00. If this is broken, then the next support from accumulated volume will be at $3.91 and $3.54.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 3.66%. For the last week, the stock has had daily average volatility of 4.66%.
Our recommended stop-loss: $4.40 (-5.50%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (WVE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect WAVE Life Sciences Ltd. to open at $4.70, and during the day (based on 14 day Average True Range), to move between $4.31 and $5.01, which gives a possible trading interval of +/-$0.351 (+/-7.52%) up or down from last closing price. If WAVE Life Sciences Ltd. takes out the full calculated possible swing range there will be an estimated 15.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.79 (2.79%) than the support at $4.00 (14.16%), 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.
Earnings coming up
WAVE Life Sciences Ltd. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.180. We will update the financials statements for WAVE Life Sciences Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.84% in the first trading day after earnings release.
Is WAVE Life Sciences Ltd. stock A Buy?
WAVE Life Sciences Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.838 Hold/Accumulate Upgraded
Predicted Opening Price for WAVE Life Sciences Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.70 ( 0.93%) | $4.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.87 | 4.58 % | |
| R2 | 4.81 | 3.18 % | ||
| R1 | 4.77 | 2.32 % | ||
| Current price: | 4.66 | |||
| Support | S1 | 4.64 | -0.464 % | |
| S2 | 4.60 | -1.32 % | ||
| S3 | 4.53 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.67 | 21.67 % | |
| R2 | 5.10 | 9.44 % | ||
| R1 | 4.79 | 2.79 % | ||
| Current price | 4.66 | |||
| Support | S1 | 4.00 | -14.16% | |
| S2 | 3.91 | -16.09% | ||
| S3 | 3.54 | -24.03% |
FAQ
Click here for our free guide on how to buy WAVE Life Sciences Ltd. Stock.
