argenx SE Stock Forecast
argenx SE stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The argenx SE stock price gained 1.28% on the last trading day (Tuesday, 7th May 2024), rising from $393.78 to $398.81. During the last trading day the stock fluctuated 1.47% from a day low at $393.02 to a day high of $398.81. The price has risen in 7 of the last 10 days and is up by 6.33% 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, 490 more shares were traded than the day before. In total, 204 thousand shares were bought and sold for approximately $81.24 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $392.32, a level that may pose a second chance to hit a runner. According to fan-theory $438.72 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ARGX Signals & Forecast
Mostly positive signals in the chart today. The argenx SE 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 $386.91 and $382.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 11.27%. 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 is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 with a target of $374.66. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for argenx SE stock
argenx SE finds support from accumulated volume at $396.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $5.79 (1.47%) between high and low. For the last week, the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: $383.01 (-3.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ARGX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect argenx SE to open at $396.88, and during the day (based on 14 day Average True Range), to move between $388.88 and $408.74, which gives a possible trading interval of +/-$9.93 (+/-2.49%) up or down from last closing price. If argenx SE takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $396.88 (0.48%) than the resistance at $401.48 (0.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
argenx SE will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.710. We will update the financials statements for argenx SE, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.88% in the first trading day after earnings release.
Is argenx SE stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.100 Buy Candidate Upgraded
Predicted Opening Price for argenx SE of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $396.88 ( 0.484%) | $398.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARGX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 402.67 | 0.97 % | |
| R2 | 400.46 | 0.413 % | ||
| R1 | 399.09 | 0.0707 % | ||
| Current price: | 398.81 | |||
| Support | S1 | 394.67 | -1.04 % | |
| S2 | 393.30 | -1.38 % | ||
| S3 | 391.09 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 406.01 | 1.81 % | |
| R2 | 402.68 | 0.97 % | ||
| R1 | 401.48 | 0.669 % | ||
| Current price | 398.81 | |||
| Support | S1 | 396.88 | -0.484% | |
| S2 | 380.01 | -4.71% | ||
| S3 | 356.95 | -10.50% |
FAQ
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