Morphic Holding, Inc. Stock Forecast
Big movements in Morphic Holding, Inc. stock price on Friday moving 13.03% between high and low
(Updated on May 17, 2024)
The Morphic Holding, Inc. stock price fell by -9.92% on the last day (Friday, 17th May 2024) from $32.45 to $29.23. During the last trading day the stock fluctuated 13.03% from a day low at $28.93 to a day high of $32.70. The price has fallen in 6 of the last 10 days and is down by -2.24% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 418 thousand shares were bought and sold for approximately $12.22 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -24.12% during the next 3 months and, with a 90% probability hold a price between $19.06 and $24.50 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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MORF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 7.19%. 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 Morphic Holding, Inc. 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 $29.53 and $29.33. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Morphic Holding, Inc. stock
Morphic Holding, Inc. finds support from accumulated volume at $28.07 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 $3.77 between high and low, or 13.03%. For the last week, the stock has had daily average volatility of 8.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MORF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Morphic Holding, Inc. to open at $30.29, and during the day (based on 14 day Average True Range), to move between $27.51 and $30.95, which gives a possible trading interval of +/-$1.72 (+/-5.88%) up or down from last closing price. If Morphic Holding, Inc. takes out the full calculated possible swing range there will be an estimated 11.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.07 (3.97%) than the resistance at $32.45 (11.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Morphic Holding, Inc. stock A Buy?
Morphic Holding, Inc. holds several negative signals and we believe that 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: -3.679 Sell Candidate Downgraded
Predicted Opening Price for Morphic Holding, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $30.29 ( 3.62%) | $29.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MORF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.06 | 16.51 % | |
| R2 | 32.62 | 11.59 % | ||
| R1 | 31.73 | 8.54 % | ||
| Current price: | 29.23 | |||
| Support | S1 | 28.85 | -1.31 % | |
| S2 | 27.96 | -4.36 % | ||
| S3 | 26.52 | -9.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.85 | 22.65 % | |
| R2 | 34.55 | 18.20 % | ||
| R1 | 32.45 | 11.02 % | ||
| Current price | 29.23 | |||
| Support | S1 | 28.07 | -3.97% | |
| S2 | 27.98 | -4.28% | ||
| S3 | 27.97 | -4.31% |
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