Collegium Pharmaceutical Stock Forecast
Red day on Monday for Collegium Pharmaceutical
(Updated on May 06, 2024)
The Collegium Pharmaceutical stock price fell by -1.31% on the last day (Monday, 6th May 2024) from $37.51 to $37.02. During the last trading day the stock fluctuated 2.81% from a day low at $36.88 to a day high of $37.92. The price has risen in 6 of the last 10 days and is up by 6.56% over the past 2 weeks. 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 -46 thousand shares and in total, 243 thousand shares were bought and sold for approximately $8.99 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.94% during the next 3 months and, with a 90% probability hold a price between $38.05 and $45.64 at the end of this 3-month period.
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COLL Signals & Forecast
There are mixed signals in the stock today. The Collegium Pharmaceutical 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 $37.13 and $37.63. 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. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.56%. 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).
Support, Risk & Stop-loss for Collegium Pharmaceutical stock
Collegium Pharmaceutical finds support from accumulated volume at $36.79 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 $1.04 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: $35.39 (-4.41%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (COLL) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Collegium Pharmaceutical to open at $37.27, and during the day (based on 14 day Average True Range), to move between $35.91 and $38.13, which gives a possible trading interval of +/-$1.11 (+/-3.01%) up or down from last closing price. If Collegium Pharmaceutical takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.79 (0.62%) than the resistance at $37.96 (2.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Collegium Pharmaceutical stock A Buy?
Collegium Pharmaceutical holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.532 Hold/Accumulate Unchanged
Predicted Opening Price for Collegium Pharmaceutical of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $37.27 ( 0.680%) | $37.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COLL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.31 | 3.48 % | |
| R2 | 37.91 | 2.41 % | ||
| R1 | 37.67 | 1.75 % | ||
| Current price: | 37.02 | |||
| Support | S1 | 36.88 | -0.388 % | |
| S2 | 36.63 | -1.05 % | ||
| S3 | 36.24 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.09 | 5.59 % | |
| R2 | 38.79 | 4.78 % | ||
| R1 | 37.96 | 2.54 % | ||
| Current price | 37.02 | |||
| Support | S1 | 36.79 | -0.621% | |
| S2 | 36.56 | -1.24% | ||
| S3 | 36.35 | -1.81% |
FAQ
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