Agios Pharmaceuticals Stock Forecast
Stronger technical forecast for Agios Pharmaceuticals stock price after Wednesday trading.
(Updated on May 01, 2024)
The Agios Pharmaceuticals stock price gained 3.57% on the last trading day (Wednesday, 1st May 2024), rising from $32.50 to $33.66. During the last trading day the stock fluctuated 6.30% from a day low at $32.53 to a day high of $34.58. The price has risen in 6 of the last 10 days and is up by 15.95% 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, 322 thousand more shares were traded than the day before. In total, 842 thousand shares were bought and sold for approximately $28.35 million.
The stock lies in the middle of a very wide and strong 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 13.30% during the next 3 months and, with a 90% probability hold a price between $31.23 and $43.18 at the end of this 3-month period.
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AGIO Signals & Forecast
The Agios 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 $32.22 and $29.91. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, February 27, 2024, and so far it has fallen -3.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Agios Pharmaceuticals stock
Agios Pharmaceuticals finds support from accumulated volume at $32.99 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 $2.05 between high and low, or 6.30%. For the last week, the stock has had daily average volatility of 4.42%.
Our recommended stop-loss: $31.89 (-5.27%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (AGIO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Agios Pharmaceuticals to open at $33.59, and during the day (based on 14 day Average True Range), to move between $32.34 and $34.98, which gives a possible trading interval of +/-$1.32 (+/-3.91%) up or down from last closing price. If Agios Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.67 (0.03%) than the support at $32.99 (1.99%), 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.
Earnings coming up
Agios Pharmaceuticals will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.64. We will update the financials statements for Agios Pharmaceuticals, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.31% in the first trading day after earnings release.
Is Agios Pharmaceuticals stock A Buy?
Agios 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.
Current score: 5.289 Strong Buy Candidate Upgraded
Predicted Opening Price for Agios Pharmaceuticals of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $33.59 ( 0.208%) | $33.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.64 | 5.88 % | |
| R2 | 34.86 | 3.56 % | ||
| R1 | 34.37 | 2.12 % | ||
| Current price: | 33.66 | |||
| Support | S1 | 32.81 | -2.53 % | |
| S2 | 32.32 | -3.97 % | ||
| S3 | 31.54 | -6.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 34.81 | 3.42 % | ||
| R1 | 33.67 | 0.0297 % | ||
| Current price | 33.66 | |||
| Support | S1 | 32.99 | -1.99% | |
| S2 | 29.94 | -11.05% | ||
| S3 | 26.80 | -20.38% |
FAQ
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