Phathom Pharmaceuticals, Inc. Stock Forecast
Green day on Wednesday for Phathom Pharmaceuticals, Inc. stock after gaining 0.662%
(Updated on Apr 24, 2024)
The Phathom Pharmaceuticals, Inc. stock price gained 0.662% on the last trading day (Wednesday, 24th Apr 2024), rising from $9.06 to $9.12. It has now gained 3 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 3.10% from a day low at $9.04 to a day high of $9.32. The price has fallen in 6 of the last 10 days and is down by -22.71% for this period. Volume fell on the last day by -148 thousand shares and in total, 428 thousand shares were bought and sold for approximately $3.90 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 37.83% during the next 3 months and, with a 90% probability hold a price between $12.35 and $17.46 at the end of this 3-month period.
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PHAT Signals & Forecast
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 Phathom Pharmaceuticals, Inc. 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 $9.35 and $9.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -24.32%. 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 Phathom Pharmaceuticals, Inc. stock
Phathom Pharmaceuticals, Inc. finds support from accumulated volume at $9.09 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 $0.280 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PHAT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Phathom Pharmaceuticals, Inc. to open at $9.16, and during the day (based on 14 day Average True Range), to move between $8.39 and $9.85, which gives a possible trading interval of +/-$0.731 (+/-8.01%) up or down from last closing price. If Phathom Pharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 16.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.09 (0.33%) than the resistance at $9.29 (1.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Phathom Pharmaceuticals, Inc. stock A Buy?
The Phathom Pharmaceuticals, Inc. stock holds several negative signals and despite the positive trend, we believe Phathom Pharmaceuticals, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.498 Sell Candidate Unchanged
Predicted Opening Price for Phathom Pharmaceuticals, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $9.16 ( 0.439%) | $9.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.44 | 3.51 % | |
| R2 | 9.33 | 2.34 % | ||
| R1 | 9.27 | 1.61 % | ||
| Current price: | 9.12 | |||
| Support | S1 | 9.05 | -0.734 % | |
| S2 | 8.99 | -1.46 % | ||
| S3 | 8.88 | -2.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.78 | 18.20 % | |
| R2 | 10.47 | 14.80 % | ||
| R1 | 9.29 | 1.86 % | ||
| Current price | 9.12 | |||
| Support | S1 | 9.09 | -0.329% | |
| S2 | 8.49 | -6.91% | ||
| S3 | 7.23 | -20.72% |
FAQ
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