High volatility in TransCode Therapeutics, Inc. stock price on Wednesday which ended trading at $3.15
(Updated on September 29, 2021)
The TransCode Therapeutics, Inc. stock price fell by -1.25% on the last day (Wednesday, 29th Sep 2021) from $3.19 to $3.15. and has now fallen 5 days in a row. During the day the stock fluctuated 15.82% from a day low at $2.78 to a day high of $3.22. The price has fallen in 7 of the last 10 days, but is still up by 22.09% over the past 2 weeks. 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 -255 thousand shares and in total, 1 million shares were bought and sold for approximately $3.93 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.17% during the next 3 months and, with a 90% probability hold a price between $1.88 and $4.56 at the end of this 3-month period.
Signals & Forecast
The TransCode Therapeutics, 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 $3.24. On a fall, the stock will find some support from the long-term average at approximately $2.90. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, September 23, 2021, and so far it has fallen -21.64%. Further fall is indicated until a new bottom pivot has been found. 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
TransCode Therapeutics, Inc. finds support from accumulated volume at $3.12 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 $0.44 between high and low, or 15.82%. For the last week, the stock has had a daily average volatility of 25.94%.
Our recommended stop-loss: $2.96 (-5.88%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Is TransCode Therapeutics, Inc. stock A Buy?
TransCode Therapeutics, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.571
Predicted Opening Price for TransCode Therapeutics, Inc. of Thursday, September 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
Fair opening price September 30, 2021
$3.05
thanks.
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