Ardelyx Stock Forecast
Ardelyx stock price down 1.48% on Thursday
(Updated on Mar 28, 2024)
The Ardelyx stock price fell by -1.48% on the last day (Thursday, 28th Mar 2024) from $7.41 to $7.30. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.69% from a day low at $7.25 to a day high of $7.59. The price has fallen in 6 of the last 10 days and is down by -9.09% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $46.99 million.
The stock lies in the middle of a very wide and weak 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 3.85% during the next 3 months and, with a 90% probability hold a price between $6.66 and $10.32 at the end of this 3-month period.
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ARDX Signals & Forecast
There are few to no technical positive signals at the moment. The Ardelyx stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.59 and $8.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 09, 2024, and so far it has fallen -25.05%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ardelyx stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.20 and $6.15. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ardelyx finds support just below today's level at $6.20. If this is broken, then the next support from accumulated volume will be at $6.15 and $6.05.
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 $0.340 between high and low, or 4.69%. For the last week, the stock has had daily average volatility of 4.29%.
Ardelyx is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARDX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ardelyx to open at $7.38, and during the day (based on 14 day Average True Range), to move between $6.86 and $7.74, which gives a possible trading interval of +/-$0.443 (+/-6.08%) up or down from last closing price. If Ardelyx takes out the full calculated possible swing range there will be an estimated 12.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.18 (12.05%) than the support at $6.20 (15.07%), 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 Ardelyx stock A Buy?
The Ardelyx stock holds several negative signals and despite the positive trend, we believe Ardelyx will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.679 Sell Candidate Unchanged
Predicted Opening Price for Ardelyx of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$7.38 ( 1.05%) | $7.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARDX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.72 | 5.71 % | |
R2 | 7.59 | 3.93 % | ||
R1 | 7.51 | 2.83 % | ||
Current price: | 7.30 | |||
Support | S1 | 7.25 | -0.729 % | |
S2 | 7.17 | -1.83 % | ||
S3 | 7.04 | -3.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.10 | 24.66 % | |
R2 | 8.82 | 20.82 % | ||
R1 | 8.18 | 12.05 % | ||
Current price | 7.30 | |||
Support | S1 | 6.20 | -15.07% | |
S2 | 6.15 | -15.75% | ||
S3 | 6.05 | -17.12% |
FAQ
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