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 upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 26, 2024 Loss -0.46% PDF

The BioMarin Pharmaceutical Inc. stock price fell by -1.43% on the last day (Thursday, 28th Mar 2024) from $88.61 to $87.34. During the last trading day the stock fluctuated 2.31% from a day low at $86.65 to a day high of $88.66. The price has been going up and down for this period, and there has been a 3.5% gain for the last 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 -32 thousand shares and in total, 928 thousand shares were bought and sold for approximately $81.09 million.

The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $88.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.86% during the next 3 months and, with a 90% probability hold a price between $72.50 and $77.93 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

The BioMarin Pharmaceutical Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $86.32 and $87.00. 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 4.21%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 for BioMarin Pharmaceutical Inc. stock

BioMarin Pharmaceutical Inc. finds support from accumulated volume at $87.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.01 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: $83.10 (-4.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (BMRN) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect BioMarin Pharmaceutical Inc. to open at $87.55, and during the day (based on 14 day Average True Range), to move between $85.62 and $89.06, which gives a possible trading interval of +/-$1.72 (+/-1.96%) up or down from last closing price. If BioMarin Pharmaceutical Inc. takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $87.14 (0.23%) than the resistance at $88.30 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.388 Buy Candidate Upgraded

Predicted Opening Price for BioMarin Pharmaceutical Inc. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$87.55 ( 0.239%) $87.34

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 89.55 2.53 %
R2 88.79 1.66 %
R1 88.31 1.12 %
Current price: 87.34
Support S1 86.78 -0.638 %
S2 86.31 -1.18 %
S3 85.54 -2.06 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 91.24 4.47 %
R2 89.66 2.66 %
R1 88.30 1.10 %
Current price 87.34
Support S1 87.14 -0.229%
S2 86.28 -1.21%
S3 86.02 -1.51%

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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

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 2024-03-28, the price of an BioMarin Pharmaceutical Inc. (BMRN) share was $87.34.

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 2024-03-28, the market capitalization of BioMarin Pharmaceutical Inc. is 16.479B.

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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