Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) fell by -4.53% in the last day from $3.09 to $2.95 and has now fallen 4 consecutive sessions. The price has fallen in 7 of the last 10 days and is down by -20.91% over the same course of time. Volume has increased in the last day by 0.56 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.53 M shares exchanged hands for about $4.50 million.
Inside CYCC’s Recent Trend
Short-term traders are anticipated to see a retreat of -36.67% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.87 and $2.44 in this timeframe.
Cyclacel Pharmaceuticals, Inc. Technical Signals
CYCC has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $3.36 and $3.99. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Thursday July 13, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.
Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Support And Resistance Levels
There is no support from accumulated volume below today’s level and given the right condition the stock may perform very badly in the next couple of days. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $3.09, $3.65 and $3.45.
Accumulated volume is going to prevent the price from rising further at $3.09 and this action will lead the price to take a temporary pause or stay muted for a few days.
Cyclacel Pharmaceuticals, Inc. (CYCC) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.33 between high and low, or 11.22%. The average volatility for the past week stood at 10.34%.
Cyclacel Pharmaceuticals is overbought on RSI14 (14). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.