Assertio Therapeutics Stock Forecast
Big movements in Assertio Therapeutics stock price on Tuesday moving 15.24% between high and low
(Updated on May 07, 2024)
The Assertio Therapeutics stock price fell by -9.02% on the last day (Tuesday, 7th May 2024) from $1.22 to $1.11. During the last trading day the stock fluctuated 15.24% from a day low at $1.05 to a day high of $1.21. The price has risen in 7 of the last 10 days and is up by 22.05% 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 -669 thousand shares and in total, 1 million shares were bought and sold for approximately $1.49 million.
The stock lies in the middle of a very 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 7.49% during the next 3 months and, with a 90% probability hold a price between $0.83 and $1.31 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASRT Signals & Forecast
The Assertio Therapeutics 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 $1.00 and $0.93. 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 Monday, May 06, 2024, and so far it has fallen -9.02%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Assertio Therapeutics stock
Assertio Therapeutics finds support from accumulated volume at $1.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.160 between high and low, or 15.24%. For the last week the stock has had daily average volatility of 13.19%.
Our recommended stop-loss: $1.05 (-5.62%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ASRT) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Assertio Therapeutics Inc. to open at $1.12, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.20, which gives a possible trading interval of +/-$0.0904 (+/-8.14%) up or down from last closing price. If Assertio Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 16.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.12 (0.90%) than the support at $1.09 (1.80%), 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 Assertio Therapeutics Inc. 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 Assertio Therapeutics stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.314 Buy Candidate Upgraded
Predicted Opening Price for Assertio Therapeutics Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.12 ( 1.20%) | $1.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASRT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.28 | 15.62 % | |
| R2 | 1.22 | 10.11 % | ||
| R1 | 1.18 | 6.71 % | ||
| Current price: | 1.11 | |||
| Support | S1 | 1.06 | -4.31 % | |
| S2 | 1.02 | -7.71 % | ||
| S3 | 0.96 | -13.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.22 | 9.91 % | |
| R2 | 1.14 | 2.70 % | ||
| R1 | 1.12 | 0.90 % | ||
| Current price | 1.11 | |||
| Support | S1 | 1.09 | -1.80% | |
| S2 | 1.04 | -6.31% | ||
| S3 | 1.01 | -9.01% |
FAQ
Click here for our free guide on how to buy Assertio Therapeutics Stock.
