Alkermes plc Stock Forecast
Green day on Wednesday for Alkermes plc stock after gaining 0.165%
(Updated on Jul 03, 2024)
The Alkermes plc stock price gained 0.165% on the last trading day (Wednesday, 3rd Jul 2024), rising from $24.19 to $24.23. During the last trading day the stock fluctuated 1.72% from a day low at $24.12 to a day high of $24.54. The price has fallen in 6 of the last 10 days and is down by -0.78% for this period. Volume fell on the last day by -680 thousand shares and in total, 508 thousand shares were bought and sold for approximately $12.32 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.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.55% during the next 3 months and, with a 90% probability hold a price between $22.38 and $24.32 at the end of this 3-month period.
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ALKS Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alkermes plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.28 and $24.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -3.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Alkermes plc stock
Alkermes plc finds support from accumulated volume at $24.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.415 between high and low, or 1.72%. For the last week the stock has had daily average volatility of 2.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALKS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Alkermes plc to open at $24.30, and during the day (based on 14 day Average True Range), to move between $23.60 and $24.86, which gives a possible trading interval of +/-$0.627 (+/-2.59%) up or down from last closing price. If Alkermes plc takes out the full calculated possible swing range there will be an estimated 5.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.19 (0.17%) than the resistance at $24.42 (0.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alkermes plc stock A Buy?
Alkermes plc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.090 Strong Sell Candidate Unchanged
Predicted Opening Price for Alkermes plc of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $24.30 ( 0.268%) | $24.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALKS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.71 | 1.98% |
| R2 | 24.55 | 1.33% |
| R1 | 24.45 | 0.92% |
| Price | 24.23 | |
| S1 | 24.14 | -0.386% |
| S2 | 24.04 | -0.790% |
| S3 | 23.88 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.73 | 10.32% |
| R2 | 24.95 | 2.97% |
| R1 | 24.42 | 0.784% |
| Price | 24.23 | |
| S1 | 24.19 | -0.165% |
| S2 | 24.10 | -0.537% |
| S3 | 24.01 | -0.91% |
FAQ
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