Catalyst Pharmaceuticals stock upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.StockInvest.us, 1 month ago
The Catalyst Pharmaceuticals stock price gained 1.49% on the last trading day (Monday, 22nd Aug 2022), rising from $14.10 to $14.31. , and has now gained 4 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 7.01% from a day low at $13.83 to a day high of $14.80. The price has risen in 7 of the last 10 days and is up by 31.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $58.97 million.
Truist Securities is very positive about CPRX and gave it a "$12.00 - $17.00" rating on Aug 11, 2022. The price target was changed from 12 to 17.Over the last 90 days, this security got 2 buy, 0 sell, and 0 hold ratings.
The stock lies in the upper part of a wide and strong rising 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 $14.84 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 104.06% during the next 3 months and, with a 90% probability hold a price between $24.67 and $30.28 at the end of this 3-month period.
Mostly positive signals in the chart today. The Catalyst Pharmaceuticals 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 $14.01 and $10.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 13, 2022, and so far it has risen 129.70%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Catalyst Pharmaceuticals finds support from accumulated volume at $13.90 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.97 between high and low, or 7.01%. For the last week, the stock has had a daily average volatility of 5.05%.
The Catalyst Pharmaceuticals stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Catalyst Pharmaceuticals holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.Check full Catalyst Pharmaceuticals forecast and analysis here.