Exelixis Stock Forecast
Exelixis stock price up 0.219% on Wednesday
(Updated on Apr 17, 2024)
The Exelixis stock price gained 0.219% on the last trading day (Wednesday, 17th Apr 2024), rising from $22.82 to $22.87. During the last trading day the stock fluctuated 2.04% from a day low at $22.83 to a day high of $23.29. The price has been going up and down for this period, and there has been a -3.46% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $62.26 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.98% during the next 3 months and, with a 90% probability hold a price between $24.43 and $27.33 at the end of this 3-month period.
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EXEL Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Exelixis stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $23.04 and $23.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -4.39%. 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).
Support, Risk & Stop-loss for Exelixis stock
Exelixis finds support from accumulated volume at $22.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.465 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EXEL) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Exelixis to open at $23.00, and during the day (based on 14 day Average True Range), to move between $22.35 and $23.39, which gives a possible trading interval of +/-$0.517 (+/-2.26%) up or down from last closing price. If Exelixis takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.98 (0.48%) than the support at $22.09 (3.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Exelixis stock A Buy?
The Exelixis stock holds several negative signals and despite the positive trend, we believe Exelixis will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.703 Sell Candidate Unchanged
Predicted Opening Price for Exelixis of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $23.00 ( 0.547%) | $22.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXEL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.46 | 2.58 % | |
| R2 | 23.28 | 1.80 % | ||
| R1 | 23.17 | 1.32 % | ||
| Current price: | 22.87 | |||
| Support | S1 | 22.82 | -0.230 % | |
| S2 | 22.71 | -0.710 % | ||
| S3 | 22.53 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.92 | 4.59 % | |
| R2 | 23.68 | 3.54 % | ||
| R1 | 22.98 | 0.481 % | ||
| Current price | 22.87 | |||
| Support | S1 | 22.09 | -3.41% | |
| S2 | 21.89 | -4.29% | ||
| S3 | 20.39 | -10.84% |
FAQ
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