MacroGenics Stock Forecast

Red day on Wednesday for MacroGenics
(Updated on Apr 17, 2024)

MGNX Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The MacroGenics 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 $17.45 and $16.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -25.01%. Further fall is indicated until a new bottom pivot has been found. 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 MacroGenics stock

MacroGenics finds support from accumulated volume at $16.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.83 between high and low, or 5.19%. For the last week, the stock has had daily average volatility of 6.24%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MGNX) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect MacroGenics to open at $16.31, and during the day (based on 14 day Average True Range), to move between $14.86 and $17.34, which gives a possible trading interval of +/-$1.24 (+/-7.72%) up or down from last closing price. If MacroGenics takes out the full calculated possible swing range there will be an estimated 15.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $16.06 (0.25%) than the resistance at $17.26 (7.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MacroGenics stock A Buy?

The MacroGenics stock holds several negative signals and despite the positive trend, we believe MacroGenics will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.242 Sell Candidate Unchanged

Predicted Opening Price for MacroGenics of Thursday, April 18, 2024

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