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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of BMRN
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BioMarin Pharmaceutical Inc. stock price ended at $92.22 on Friday, after gaining 0.83%.
(Updated on Apr 12, 2024)

Buy or Hold candidate since Apr 08, 2024 Gain 5.66% PDF

The BioMarin Pharmaceutical Inc. stock price gained 0.83% on the last trading day (Friday, 12th Apr 2024), rising from $91.46 to $92.22. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.38% from a day low at $91.09 to a day high of $93.26. The price has risen in 7 of the last 10 days and is up by 5.59% 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, 299 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $216.14 million.

Given the current short-term trend, the stock is expected to fall -5.07% during the next 3 months and, with a 90% probability hold a price between $78.18 and $87.55 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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BMRN Signals & Forecast

Mostly positive signals in the chart today. The BioMarin Pharmaceutical Inc. 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 $89.14 and $87.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 10.03%. 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.

Support, Risk & Stop-loss for BioMarin Pharmaceutical Inc. stock

BioMarin Pharmaceutical Inc. finds support from accumulated volume at $91.24 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 $2.17 (2.38%) between high and low. For the last week, the stock has had daily average volatility of 2.26%.

The BioMarin Pharmaceutical Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the BioMarin Pharmaceutical Inc. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $87.67 (-4.94%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (BMRN) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect BioMarin Pharmaceutical Inc. to open at $92.19, and during the day (based on 14 day Average True Range), to move between $90.49 and $93.95, which gives a possible trading interval of +/-$1.73 (+/-1.88%) up or down from last closing price. If BioMarin Pharmaceutical Inc. takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $92.31 (0.10%) than the support at $91.24 (1.06%), 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 BioMarin Pharmaceutical Inc. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 3.228 Buy Candidate Unchanged

Predicted Opening Price for BioMarin Pharmaceutical Inc. of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$92.19 ( 0.0325%) $92.22

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for BMRN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 94.36 2.32 %
R2 93.53 1.42 %
R1 93.02 0.87 %
Current price: 92.22
Support S1 91.36 -0.93 %
S2 90.85 -1.49 %
S3 90.02 -2.39 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 94.04 1.97 %
R2 93.04 0.89 %
R1 92.31 0.0976 %
Current price 92.22
Support S1 91.24 -1.06%
S2 89.66 -2.78%
S3 86.28 -6.44%

FAQ

What is the symbol for BioMarin Pharmaceutical Inc. Stock and on which exchange is it traded?
The symbol for BioMarin Pharmaceutical Inc. is BMRN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell BioMarin Pharmaceutical Inc. Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

How to buy BioMarin Pharmaceutical Inc. Stock?
BioMarin Pharmaceutical Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy BioMarin Pharmaceutical Inc. Stock.

What's the current price of BioMarin Pharmaceutical Inc. Stock?
As of the end of day on the 2024-04-12, the price of an BioMarin Pharmaceutical Inc. (BMRN) share was $92.22.

What is the 52-week high and low for BioMarin Pharmaceutical Inc. Stock?
The 52-week high for BioMarin Pharmaceutical Inc. Stock is $100.38 and the 52-week low is $76.02.

What is the market capitalization of BioMarin Pharmaceutical Inc. Stock?
As of the 2024-04-12, the market capitalization of BioMarin Pharmaceutical Inc. is 17.501B.

When is the next earnings date for BioMarin Pharmaceutical Inc.?
The upcoming earnings date for BioMarin Pharmaceutical Inc. is Apr 24, 2024.
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About BioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical. BioMarin Pharmaceutical Inc. develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form o... BMRN Profile

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