Ligand Pharmaceuticals Incorporated Stock Forecast
Stronger technical forecast for Ligand Pharmaceuticals Incorporated stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The Ligand Pharmaceuticals Incorporated stock price gained 1.98% on the last trading day (Tuesday, 23rd Apr 2024), rising from $68.53 to $69.89. During the last trading day the stock fluctuated 3.88% from a day low at $68.50 to a day high of $71.16. The price has fallen in 7 of the last 10 days and is down by -14.25% for this period. Volume fell on the last day by -106 thousand shares and in total, 141 thousand shares were bought and sold for approximately $9.83 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $68.54 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ligand Pharmaceuticals Incorporated stock with a 90% probability to be traded between $69.05 and $90.29 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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LGND Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.98%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ligand Pharmaceuticals Incorporated 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 $74.57 and $74.32. 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).
Support, Risk & Stop-loss for Ligand Pharmaceuticals Incorporated stock
Ligand Pharmaceuticals Incorporated finds support from accumulated volume at $69.25 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 $2.66 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 5.07%.
Our recommended stop-loss: $66.42 (-4.97%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (LGND) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Ligand Pharmaceuticals Incorporated to open at $69.85, and during the day (based on 14 day Average True Range), to move between $67.06 and $72.72, which gives a possible trading interval of +/-$2.83 (+/-4.04%) up or down from last closing price. If Ligand Pharmaceuticals Incorporated takes out the full calculated possible swing range there will be an estimated 8.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $69.25 (0.92%) than the resistance at $71.09 (1.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ligand Pharmaceuticals Incorporated stock A Buy?
Ligand Pharmaceuticals Incorporated holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.700 Hold/Accumulate Upgraded
Predicted Opening Price for Ligand Pharmaceuticals Incorporated of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$69.85 ( 0.0596%) | $69.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LGND
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 72.50 | 3.74 % | |
R2 | 71.49 | 2.29 % | ||
R1 | 70.86 | 1.39 % | ||
Current price: | 69.89 | |||
Support | S1 | 68.83 | -1.51 % | |
S2 | 68.21 | -2.41 % | ||
S3 | 67.19 | -3.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 84.35 | 20.69 % | |
R2 | 79.35 | 13.54 % | ||
R1 | 71.09 | 1.72 % | ||
Current price | 69.89 | |||
Support | S1 | 69.25 | -0.92% | |
S2 | 68.64 | -1.79% | ||
S3 | 68.53 | -1.95% |
LGND Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 02, 2010 | Jul 02, 2010 | Jul 01, 2010 | $0.456 | 5.43% |
2 | Mar 21, 2007 | Apr 03, 2007 | Apr 19, 2007 | $9.36 | 21.97% |
FAQ
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