CABA Stock Price is Falling Ahead of Earnings; Will Buyers Take Back Control?
- Cabaletta Bio stock price has lost 40% in the past 17 days showing weakness.
- CABA stock price is trading below the key moving average.
Since March, the CABA stock price has been in a bearish trend and has lost 55.57% till now. In the first week of April, the price retested the $20 hurdle witnessed a strong selling pressure, and reached a multi-day low. The asset price has dropped below the support level of $12 indicating the strength of sellers..
On a wider time frame, the CABA stock price has been bullish since 2023 and recorded an all-time high of $25.38 on February 08, 2024. However, the trend was exhausted near the $25 hurdle at the beginning of 2024 and the buyers tried to surpass this level but sellers dominated this level and witnessed negative momentum.
The current market price of $11.01 and has dropped by 9.61% in the previous trading session. The market capitalization is $515.32 million, the trading volume is $2.92 million and the average volume is $1.19 million.
CABA Stock Price Technical Analysis Over Weekly Timeframe
NASDAQ: CABA/USD 1-Week Chart By TradingView
CABA stock price has formed an exhaustion & impulsion candlestick pattern on a weekly time frame. It has formed 2 strong negative candlesticks and has just slipped below the 200-day exponential moving average.
Suppose the current candlestick closes below the 200-day exponential moving average on the weekly chart, sellers may become confident and the price may melt to the support level of $7.
Alternatively, if the asset price takes support on the 200-day EMA and trading volume increases then the price may gain bullish momentum for the short term. Suppose the price manages to surpass the 20-day EMA and sustains then the price will continue the bullish trend.
CABA Stock Price Trading Below the Key Moving Average; Will It Bounce Back?
NASDAQ: CABA/USD 1-Day Chart By TradingView
On a daily time frame, the Cabaletta Bio price has faced resistance from the major resistance level of $19 and witnessed strong selling pressure. For the last few days, the asset price has been showing a directional move.
If the sellers remain strong then the price may melt to the $7 mark soon. According to the technical chart, if the price fails to defend the $7 level then the sellers may look for an all-time low.
Suppose the buying pressure increases on the $7 mark with trading volume then the price may head for the 200-day exponential moving average. If the stock price sustains over the 200-day EMA then it may follow the previous trend.
Based on the technical indicators, the CABA sthttps://capitalmarkettimes.com/atpc-stock-price-at-all-time-low-will/ock price is trading below the key moving average which showcases the bearish sentiment. Based on the MACD, a bearish crossover has been generated and the MACD and the Signal line is below the Zero line.
Resistance Levels for stock are $12.00 & $19.00 and Support are $7.00 & $2.30.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
