Enanta Pharmaceuticals Stock Forecast
A very red day for Enanta Pharmaceuticals stock price after a -5.50% fall in the Thursday trading session
(Updated on Apr 18, 2024)
The Enanta Pharmaceuticals stock price fell by -5.50% on the last day (Thursday, 18th Apr 2024) from $14.00 to $13.23. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 5.45% from a day low at $13.22 to a day high of $13.94. The price has fallen in 7 of the last 10 days and is down by -18.23% 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 -39 thousand shares and in total, 150 thousand shares were bought and sold for approximately $1.99 million.
Given the current short-term trend, the stock is expected to rise 34.38% during the next 3 months and, with a 90% probability hold a price between $17.78 and $24.90 at the end of this 3-month period.
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ENTA Signals & Forecast
There are few to no technical positive signals at the moment. The Enanta Pharmaceuticals 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 $15.50 and $15.40. 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 28, 2024, and so far it has fallen -24.23%. 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 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 for Enanta Pharmaceuticals stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.36 and $12.34. 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, Enanta Pharmaceuticals finds support just below today's level at $12.36. If this is broken, then the next support from accumulated volume will be at $12.34 and $12.33.
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 $0.720 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 5.47%.
Enanta Pharmaceuticals is oversold on RSI14 (20). 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 (ENTA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Enanta Pharmaceuticals to open at $13.46, and during the day (based on 14 day Average True Range), to move between $12.38 and $14.08, which gives a possible trading interval of +/-$0.85 (+/-6.40%) up or down from last closing price. If Enanta Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 12.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.04 (6.12%) than the support at $12.36 (6.58%), 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 Enanta Pharmaceuticals stock A Buy?
The Enanta Pharmaceuticals stock holds several negative signals and despite the positive trend, we believe Enanta Pharmaceuticals will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.000 Sell Candidate Upgraded
Predicted Opening Price for Enanta Pharmaceuticals of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $13.46 ( 1.76%) | $13.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENTA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.18 | 7.21 % | |
| R2 | 13.91 | 5.13 % | ||
| R1 | 13.74 | 3.84 % | ||
| Current price: | 13.23 | |||
| Support | S1 | 13.19 | -0.315 % | |
| S2 | 13.02 | -1.60 % | ||
| S3 | 12.74 | -3.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.53 | 24.94 % | |
| R2 | 15.95 | 20.56 % | ||
| R1 | 14.04 | 6.12 % | ||
| Current price | 13.23 | |||
| Support | S1 | 12.36 | -6.58% | |
| S2 | 12.34 | -6.73% | ||
| S3 | 12.33 | -6.80% |
FAQ
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