Biohaven Pharmaceutical Holding Co Ltd Stock Forecast
Red day on Thursday for Biohaven Pharmaceutical Holding Co Ltd stock after losing 0.465%
(Updated on Apr 25, 2024)
The Biohaven Pharmaceutical Holding Co Ltd stock price fell by -0.465% on the last day (Thursday, 25th Apr 2024) from $38.72 to $38.54. During the last trading day the stock fluctuated 5.93% from a day low at $36.77 to a day high of $38.95. The price has fallen in 8 of the last 10 days and is down by -27.95% for this period. Volume has increased on the last day by 877 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $70.34 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $38.34 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Biohaven Pharmaceutical Holding Co Ltd stock with a 90% probability to be traded between $38.50 and $60.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BHVN Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.548%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Biohaven Pharmaceutical Holding Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $40.05 and $51.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Biohaven Pharmaceutical Holding Co Ltd stock
Biohaven Pharmaceutical Holding Co Ltd finds support from accumulated volume at $38.33 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.18 between high and low, or 5.93%. For the last week, the stock has had daily average volatility of 7.48%.
Biohaven Pharmaceutical Holding Co Ltd is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BHVN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Biohaven Pharmaceutical Holding Company Ltd to open at $38.09, and during the day (based on 14 day Average True Range), to move between $35.42 and $41.66, which gives a possible trading interval of +/-$3.12 (+/-8.11%) up or down from last closing price. If Biohaven Pharmaceutical Holding Company Ltd takes out the full calculated possible swing range there will be an estimated 16.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.33 (0.54%) than the resistance at $38.99 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biohaven Pharmaceutical Holding Company Ltd stock A Buy?
Biohaven Pharmaceutical Holding Co Ltd holds several negative signals and is within a very wide and 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: -3.426 Sell Candidate Unchanged
Predicted Opening Price for Biohaven Pharmaceutical Holding Company Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $38.09 ( 1.18%) | $38.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHVN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.27 | 4.48 % | |
| R2 | 39.43 | 2.32 % | ||
| R1 | 38.92 | 0.98 % | ||
| Current price: | 38.54 | |||
| Support | S1 | 37.25 | -3.34 % | |
| S2 | 36.74 | -4.67 % | ||
| S3 | 35.91 | -6.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.77 | 16.17 % | |
| R2 | 42.16 | 9.39 % | ||
| R1 | 38.99 | 1.17 % | ||
| Current price | 38.54 | |||
| Support | S1 | 38.33 | -0.545% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Biohaven Pharmaceutical Holding Company Ltd Stock.
