Fate Therapeutics stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session. (Updated on August 30, 2021)

Hold candidate since 2021-08-30 PDF

The Fate Therapeutics stock price fell by -1.24% on the last day (Monday, 30th Aug 2021) from $72.64 to $71.74. During the day the stock fluctuated 4.29% from a day low at $71.62 to a day high of $74.69. The price has fallen in 6 of the last 10 days and is down by -18.13% 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 -380 thousand shares and in total, 710 thousand shares were bought and sold for approximately $50.92 million.

The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $67.03 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Fate Therapeutics stock with a 90% probability to be traded between $67.20 and $96.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, August 20, 2021, and so far it has risen 7.06%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fate Therapeutics stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $82.89. On a fall, the stock will find some support from the short-term average at $71.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 months 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

Fate Therapeutics finds support from accumulated volume at $71.53 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 a large prediction interval from the Bollinger Band this stock is considered to be high risk. During the last day, the stock moved $3.07 between high and low, or 4.29%. For the last week, the stock has had a daily average volatility of 4.65%.

Our recommended stop-loss: $68.60 (-4.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)

Is Fate Therapeutics stock A Buy?

Fate Therapeutics holds several positive signals, but we still dont 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.422

Predicted Opening Price for Fate Therapeutics of Tuesday, August 31, 2021

The predicted opening price is based on yesterdays movements between high, low, and the closing price.

Fair opening price August 31, 2021 Current price
$72.68 $71.74 (Undervalued)

Hold/Accumulate Upgraded

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On August 26, 2021 Morgan Stanley gave $77.00 rating for FATE. The price target was set to $72.94+2.0%.

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