XBiotech Inc. Stock Forecast
High volatility in XBiotech Inc. stock price on Friday which ended trading at $8.04
(Updated on Apr 19, 2024)
The XBiotech Inc. stock price gained 1.64% on the last trading day (Friday, 19th Apr 2024), rising from $7.91 to $8.04. During the last trading day the stock fluctuated 11.05% from a day low at $7.51 to a day high of $8.34. The price has fallen in 6 of the last 10 days and is down by -2.07% for this period. Volume fell on the last day by -22 thousand shares and in total, 76 thousand shares were bought and sold for approximately $612.80 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.76 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 84.86% during the next 3 months and, with a 90% probability hold a price between $14.35 and $19.28 at the end of this 3-month period.
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XBIT Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -18.71%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The XBiotech Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.74. On a fall, the stock will find some support from the long-term average at approximately $7.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for XBiotech Inc. stock
XBiotech Inc. finds support from accumulated volume at $7.97 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 $0.83 between high and low, or 11.05%. For the last week the stock has had daily average volatility of 9.35%.
Our recommended stop-loss: $7.60 (-5.48%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (XBIT) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect XBiotech Inc. to open at $7.96, and during the day (based on 14 day Average True Range), to move between $7.31 and $8.77, which gives a possible trading interval of +/-$0.732 (+/-9.10%) up or down from last closing price. If XBiotech Inc. takes out the full calculated possible swing range there will be an estimated 18.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.97 (0.87%) than the resistance at $8.41 (4.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XBiotech Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.855 Buy Candidate Upgraded
Predicted Opening Price for XBiotech Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $7.96 ( 0.95%) | $8.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XBIT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.79 | 9.37 % | |
| R2 | 8.48 | 5.43 % | ||
| R1 | 8.28 | 2.99 % | ||
| Current price: | 8.04 | |||
| Support | S1 | 7.65 | -4.90 % | |
| S2 | 7.45 | -7.33 % | ||
| S3 | 7.13 | -11.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.73 | 21.02 % | |
| R2 | 8.47 | 5.35 % | ||
| R1 | 8.41 | 4.60 % | ||
| Current price | 8.04 | |||
| Support | S1 | 7.97 | -0.87% | |
| S2 | 6.90 | -14.18% | ||
| S3 | 6.40 | -20.40% |
XBIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2021 | Jul 15, 2021 | Jul 23, 2021 | $2.50 | 15.65% |
FAQ
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