Weaker technical forecast for Alnylam Pharmaceuticals as stock downgraded to Buy Candidate.
(Updated on Oct 15, 2021)
Buy candidate since 2021-10-04 Gain 6.94% PDF
The Alnylam Pharmaceuticals stock price fell by -0.35% on the last day (Friday, 15th Oct 2021) from $209.29 to $208.56. During the day the stock fluctuated 1.36% from a day low at $207.37 to a day high of $210.19. The price has risen in 8 of the last 10 days and is up by 8.24% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -50 thousand shares and in total, 405 thousand shares were bought and sold for approximately $84.43 million.
The stock lies in the middle of a wide and weak 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 6.77% during the next 3 months and, with a 90% probability hold a price between $192.06 and $232.62 at the end of this 3-month period.
Signals & Forecast
The Alnylam 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 $205.19 and $193.82. 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). 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, October 14, 2021, and so far it has fallen -0.35%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
Alnylam Pharmaceuticals finds support from accumulated volume at $200.25 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 $2.82 between high and low, or 1.36%. For the last week, the stock has had a daily average volatility of 2.24%.
Our recommended stop-loss: $200.53 (-3.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 days ago.)
Is Alnylam Pharmaceuticals stock A Buy?
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 Alnylam Pharmaceuticals 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.
Current score: 1.824
Predicted Opening Price for Alnylam Pharmaceuticals of Monday, October 18, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price October 18, 2021||Current price|
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On Oct 12, 2021 "Morgan Stanley" gave "$234.00 - $242.00" rating for ALNY. The price target was set to $204.53+0.4%.
ALNY Insider Trading
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