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Coherus BioSciences Stock Forecast NASDAQ:CHRS

$17.96 (1.93%)

Volume: 893k

Closed: Dec 07, 2021

Hollow Logo Score: 3.915

Coherus BioSciences Stock Forecast

$17.96 (1.93%)

Volume: 893k

Closed: Dec 07, 2021

Score Hollow Logo 3.915
Which way will CHRS go? Request
Tue, Dec 07, 2021 Buy Candidate Upgraded
Stop-loss: $17.08 (-4.89%)
Key Stats
Beta 0.85
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 38 and the stock is currently not being overbought or oversold

Stronger technical forecast for Coherus BioSciences stock price after Tuesday trading.
(Updated on Dec 07, 2021)


Buy candidate since 2021-12-07

The Coherus BioSciences stock price gained 1.93% on the last trading day (Tuesday, 7th Dec 2021), rising from $17.62 to $17.96. During the day the stock fluctuated 4.49% from a day low at $17.58 to a day high of $18.37. The price has been going up and down for this period, and there has been a -1.97% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 159 thousand more shares were traded than the day before. In total, 893 thousand shares were bought and sold for approximately $16.05 million.

The stock lies in the middle of a wide and strong 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 13.55% during the next 3 months and, with a 90% probability hold a price between $19.42 and $22.15 at the end of this 3-month period.

Signals & Forecast

The Coherus BioSciences stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $18.00. On a fall, the stock will find some support from the long-term average at approximately $17.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, November 16, 2021, and so far it has fallen -5.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

Coherus BioSciences finds support from accumulated volume at $17.56 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 $0.79 (4.49%) between high and low. For the last week, the stock has had a daily average volatility of 4.38%.

Our recommended stop-loss: $17.08 (-4.89%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Is Coherus BioSciences 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 Coherus BioSciences stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.915

Predicted Opening Price for Coherus BioSciences of Wednesday, December 8, 2021

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

Fair opening price December 8, 2021 Current price
$17.97 $17.96 (Undervalued)
Buy Candidate Upgraded

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Analyst Ratings

On Nov 09, 2021 "HC Wainwright" gave "$36.00 - $30.00" rating for CHRS. The price target was changed from $17.30 to 1.2%.

Volatility and Risk
Daily Average Volatility: 4.38 %
Overall Risk: Very High High Medium Low Very Low
Volatility
4.38 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $18.51
Price: $17.96
Support: $17.56

CHRS Insider Trading Show all Trades

INSIDER POWER

1.394

Last 100 transactions
Buy: 2 182 859 | Sell: 1 565 638 (Shares)
Date Action Amount Person Type
Nov 17, 2021 Sell 10 000 Lanfear Dennis M Common Stock
Oct 15, 2021 Sell 3 507 Stilwell Mcdavid Common Stock
Sep 29, 2021 Sell 286 076 Healy James Common Stock, $0.0001 par value
Sep 28, 2021 Sell 48 329 Healy James Common Stock, $0.0001 par value
Sep 27, 2021 Sell 100 150 Healy James Common Stock, $0.0001 par value
Show all Insider Trades
INSIDER POWER

1.394

Last 100 transactions
Buy: 2 182 859 | Sell: 1 565 638 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 18.76 4.45 %
18.46 2.77 %
18.27 1.74 %
Current price: 17.96
Support 17.67 -1.62 %
17.48 -2.66 %
17.18 -4.34 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 18.86 5.01 %
18.69 4.06 %
18.51 3.06 %
Current price 17.96
Support 17.56 -2.23%
16.17 -9.97%
16.07 -10.52%

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About Coherus BioSciences

Coherus BioSciences Coherus Biosciences, Inc., a late-stage clinical biologics platform company, focuses on developing and commercializing biosimilar products worldwide. The company’s product candidates include CHS-1701, a pegfilgrastim biosimilar candidate, which has completed a Phase I study for the prevention of chemotherapy-induced neutropenia; CHS-0214, an etanercept biosimilar candidate, which is in Phase III clinical trials for the treatment of rheumatoid ar... Read more

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