Jazz Pharmaceuticals plc Stock Forecast
Evaluation of Jazz Pharmaceuticals plc stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Jazz Pharmaceuticals plc stock price fell by -0.82% on the last day (Thursday, 25th Apr 2024) from $108.32 to $107.43. During the last trading day the stock fluctuated 1.71% from a day low at $107.22 to a day high of $109.05. The price has fallen in 6 of the last 10 days and is down by -5.34% for this period. Volume has increased on the last day by 23 thousand 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, 419 thousand shares were bought and sold for approximately $45.02 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $105.46 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.27% during the next 3 months and, with a 90% probability hold a price between $92.51 and $106.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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JAZZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.308%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jazz Pharmaceuticals plc 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 $108.65 and $115.85. A break-up above any of these levels will issue buy signals. 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 Jazz Pharmaceuticals plc stock
Jazz Pharmaceuticals plc finds support from accumulated volume at $107.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.83 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 1.77%.
Jazz Pharmaceuticals plc is oversold on RSI14 (24). 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 (JAZZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Jazz Pharmaceuticals plc to open at $107.90, and during the day (based on 14 day Average True Range), to move between $105.01 and $109.85, which gives a possible trading interval of +/-$2.42 (+/-2.25%) up or down from last closing price. If Jazz Pharmaceuticals plc takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $107.10 (0.31%) than the resistance at $117.93 (9.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jazz Pharmaceuticals plc stock A Buy?
Jazz Pharmaceuticals plc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.228 Sell Candidate Downgraded
Predicted Opening Price for Jazz Pharmaceuticals plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $107.90 ( 0.437%) | $107.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JAZZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 109.73 | 2.14 % | |
| R2 | 109.03 | 1.49 % | ||
| R1 | 108.60 | 1.09 % | ||
| Current price: | 107.43 | |||
| Support | S1 | 107.20 | -0.213 % | |
| S2 | 106.77 | -0.615 % | ||
| S3 | 106.07 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.90 | 12.54 % | |
| R2 | 118.90 | 10.68 % | ||
| R1 | 117.93 | 9.77 % | ||
| Current price | 107.43 | |||
| Support | S1 | 107.10 | -0.307% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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