Halozyme Therapeutics, Inc. Stock Forecast

Halozyme Therapeutics, Inc. stock price up 1.26% on Monday
(Updated on Jun 17, 2024)

0J2O.L Signals & Forecast

The Halozyme Therapeutics, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 50.26€. On a fall, the stock will find some support from the long-term average at approximately 44.35€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -5.68%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Halozyme Therapeutics, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at 45.39€ and 44.16€. There is a 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, Halozyme Therapeutics, Inc. finds support just below today's level at 45.39€. If this is broken, then the next support from accumulated volume will be at 44.16€ and 43.49€.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved 0.88€ between high and low, or 1.81%. For the last week the stock has had daily average volatility of 1.45%.

Our recommended stop-loss: 46.86€ (-5.16%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (0J2O.L) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Halozyme Therapeutics, Inc. to open at 49.25€, and during the day (based on 14 day Average True Range), to move between 48.00€ and 50.81€, which gives a possible trading interval of +/-1.41€ (+/-2.85%) up or down from last closing price. If Halozyme Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 50.03€ (1.26%) than the support at 45.39€ (8.13%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Halozyme Therapeutics, Inc. stock A Buy?

Halozyme Therapeutics, Inc. 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: 0.295 Hold/Accumulate Unchanged

Predicted Opening Price for Halozyme Therapeutics, Inc. of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.