Morphic Holding, Inc. Stock Forecast
High volatility in Morphic Holding, Inc. stock price on Friday which ended trading at $30.80
(Updated on May 24, 2024)
The Morphic Holding, Inc. stock price gained 10.95% on the last trading day (Friday, 24th May 2024), rising from $27.76 to $30.80. During the last trading day the stock fluctuated 12.78% from a day low at $27.47 to a day high of $30.98. The price has been going up and down for this period, and there has been a 7.62% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 432 thousand more shares were traded than the day before. In total, 775 thousand shares were bought and sold for approximately $23.87 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $31.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -23.44% during the next 3 months and, with a 90% probability hold a price between $18.77 and $24.14 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
The Morphic Holding, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $29.91 and $29.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 12.94%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Morphic Holding, Inc. stock
Morphic Holding, Inc. finds support from accumulated volume at $29.51 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 $3.51 between high and low, or 12.78%. For the last week, the stock has had daily average volatility of 7.33%.
Our recommended stop-loss: $29.57 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 72 days ago.)
Trading Expectations (MORF) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Morphic Holding, Inc. to open at $29.75, and during the day (based on 14 day Average True Range), to move between $28.95 and $32.65, which gives a possible trading interval of +/-$1.85 (+/-6.00%) up or down from last closing price. If Morphic Holding, Inc. takes out the full calculated possible swing range there will be an estimated 11.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.51 (4.19%) than the resistance at $32.45 (5.36%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.586 Buy Candidate Upgraded
Predicted Opening Price for Morphic Holding, Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $29.75 ( 3.41%) | $30.80 |
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 | 33.26 | 7.99 % | |
| R2 | 31.92 | 3.63 % | ||
| R1 | 31.09 | 0.94 % | ||
| Current price: | 30.80 | |||
| Support | S1 | 28.41 | -7.76 % | |
| S2 | 27.58 | -10.45 % | ||
| S3 | 26.24 | -14.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.16 | 23.90 % | |
| R2 | 34.55 | 12.18 % | ||
| R1 | 32.45 | 5.36 % | ||
| Current price | 30.80 | |||
| Support | S1 | 29.51 | -4.19% | |
| S2 | 27.98 | -9.16% | ||
| S3 | 27.97 | -9.19% |
FAQ
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