Evaluation of Sarepta Therapeutics stock downgraded after the last trading session.StockInvest.us, 1 month ago
The Sarepta Therapeutics stock price gained 0.40% on the last trading day (Thursday, 7th Apr 2022), rising from $88.09 to $88.44. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 3.21% from a day low at $86.44 to a day high of $89.21. The price has risen in 6 of the last 10 days and is up by 9.95% over the past 2 weeks. Volume fell on the last day by -227 thousand shares and in total, 663 thousand shares were bought and sold for approximately $58.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Morgan Stanley is very positive about SRPT and gave it a "$71.00 - $80.00" rating on Mar 07, 2022. The price target was set to 80.42+1.34.
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 $89.52 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 19.67% during the next 3 months and, with a 90% probability hold a price between $91.45 and $107.12 at the end of this 3-month period.
Mostly positive signals in the chart today. The Sarepta Therapeutics 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 $84.02 and $79.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 14, 2022, and so far it has risen 18.65%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
On the downside, the stock finds support just below today's level from accumulated volume at $76.15 and $68.71.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sarepta Therapeutics finds support just below today's level at $76.15. If this is broken, then the next support from accumulated volume will be at $68.71 and $67.30.
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 $2.77 between high and low, or 3.21%. For the last week, the stock has had a daily average volatility of 4.08%.
Since the Sarepta Therapeutics has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sarepta Therapeutics stock to perform well in the short-term.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.Check full Sarepta Therapeutics forecast and analysis here.