Supernus Pharmaceuticals Stock Forecast
High volatility in Supernus Pharmaceuticals stock price on Thursday which ended trading at $30.00
(Updated on May 09, 2024)
The Supernus Pharmaceuticals stock price fell by -4.15% on the last day (Thursday, 9th May 2024) from $31.30 to $30.00. During the last trading day the stock fluctuated 13.19% from a day low at $29.04 to a day high of $32.87. The price has risen in 6 of the last 10 days and is up by 2.35% over the past 2 weeks. Volume has increased on the last day by 610 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, 1 million shares were bought and sold for approximately $31.68 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $29.10 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 2.73% during the next 3 months and, with a 90% probability hold a price between $29.90 and $36.67 at the end of this 3-month period.
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SUPN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.91%. Further rise is indicated until a new top pivot has been found. 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 Supernus Pharmaceuticals 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 $30.58 and $31.37. A break-up above any of these levels will issue buy signals. 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 Supernus Pharmaceuticals stock
Supernus Pharmaceuticals finds support from accumulated volume at $29.70 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 $3.83 between high and low, or 13.19%. For the last week, the stock has had daily average volatility of 5.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SUPN) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Supernus Pharmaceuticals to open at $30.64, and during the day (based on 14 day Average True Range), to move between $28.74 and $31.26, which gives a possible trading interval of +/-$1.26 (+/-4.19%) up or down from last closing price. If Supernus Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 8.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.70 (1.00%) than the resistance at $30.69 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Supernus Pharmaceuticals stock A Buy?
The Supernus Pharmaceuticals stock holds several negative signals and despite the positive trend, we believe Supernus Pharmaceuticals will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.887 Sell Candidate Downgraded
Predicted Opening Price for Supernus Pharmaceuticals of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $30.64 ( 2.12%) | $30.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUPN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.47 | 14.89 % | |
| R2 | 33.00 | 10.01 % | ||
| R1 | 32.10 | 7.00 % | ||
| Current price: | 30.00 | |||
| Support | S1 | 29.17 | -2.75 % | |
| S2 | 28.27 | -5.77 % | ||
| S3 | 26.81 | -10.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.43 | 4.77 % | |
| R2 | 31.08 | 3.60 % | ||
| R1 | 30.69 | 2.30 % | ||
| Current price | 30.00 | |||
| Support | S1 | 29.70 | -1.00% | |
| S2 | 29.50 | -1.67% | ||
| S3 | 29.00 | -3.33% |
FAQ
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