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AI Analysis of BPMC
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Green day on Thursday for Blueprint Medicines Corporation stock after gaining 0.0738%
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 15, 2024 Gain 8.32% PDF

The Blueprint Medicines Corporation stock price gained 0.0738% on the last trading day (Thursday, 28th Mar 2024), rising from $94.79 to $94.86. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.38% from a day low at $93.75 to a day high of $95.98. The price has risen in 8 of the last 10 days and is up by 8.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 603 thousand shares were bought and sold for approximately $57.20 million.

The stock lies in the middle of a very 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 11.00% during the next 3 months and, with a 90% probability hold a price between $87.00 and $114.87 at the end of this 3-month period.

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BPMC Signals & Forecast

The Blueprint Medicines Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $90.41 and $88.57. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -4.94%. 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 Blueprint Medicines Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $87.97 and $87.57. 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, Blueprint Medicines Corporation finds support just below today's level at $87.97. If this is broken, then the next support from accumulated volume will be at $87.57 and $86.00.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.23 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 4.32%.

Our recommended stop-loss: $90.97 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (BPMC) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Blueprint Medicines Corporation to open at $94.86, and during the day (based on 14 day Average True Range), to move between $90.68 and $99.04, which gives a possible trading interval of +/-$4.18 (+/-4.40%) up or down from last closing price. If Blueprint Medicines Corporation takes out the full calculated possible swing range there will be an estimated 8.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $95.05 (0.20%) than the support at $87.97 (7.26%), 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 Blueprint Medicines Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Blueprint Medicines Corporation stock to perform well in the short-term.

Current score: 3.859 Buy Candidate Unchanged

Predicted Opening Price for Blueprint Medicines Corporation of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$94.86 ( 0.0035%) $94.86

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for BPMC

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 97.09 2.35 %
R2 96.24 1.46 %
R1 95.72 0.90 %
Current price: 94.86
Support S1 94.01 -0.89 %
S2 93.49 -1.45 %
S3 92.63 -2.35 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 99.79 5.20 %
R2 95.45 0.622 %
R1 95.05 0.200 %
Current price 94.86
Support S1 87.97 -7.26%
S2 87.57 -7.69%
S3 86.00 -9.34%

FAQ

What is the symbol for Blueprint Medicines Corporation Stock and on which exchange is it traded?
The symbol for Blueprint Medicines Corporation is BPMC and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Blueprint Medicines Corporation Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Blueprint Medicines Corporation stock to perform well in the short-term.

How to buy Blueprint Medicines Corporation Stock?
Blueprint Medicines Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Blueprint Medicines Corporation Stock.

What's the current price of Blueprint Medicines Corporation Stock?
As of the end of day on the 2024-03-28, the price of an Blueprint Medicines Corporation (BPMC) share was $94.86.

What is the 52-week high and low for Blueprint Medicines Corporation Stock?
The 52-week high for Blueprint Medicines Corporation Stock is $100.98 and the 52-week low is $41.54.

What is the market capitalization of Blueprint Medicines Corporation Stock?
As of the 2024-03-28, the market capitalization of Blueprint Medicines Corporation is 5.808B.

When is the next earnings date for Blueprint Medicines Corporation?
The upcoming earnings date for Blueprint Medicines Corporation is May 02, 2024.
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About Blueprint Medicines Corporation

Blueprint Medicines Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of non-advanced SM and other mast cell disorders; and Fisogatinib, an orally avail... BPMC Profile

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