Red day on Friday for Corcept Therapeutics Incorporated
(Updated on Nov 26, 2021)
Hold candidate since 2021-11-24 Loss -4.32% PDF
The Corcept Therapeutics Incorporated stock price fell by -4.32% on the last day (Friday, 26th Nov 2021) from $22.46 to $21.49. and has now fallen 4 days in a row. During the day the stock fluctuated 5.56% from a day low at $21.41 to a day high of $22.60. The price has fallen in 7 of the last 10 days and is down by -4.7% for this period. 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 -14 thousand shares and in total, 469 thousand shares were bought and sold for approximately $10.08 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 3.66% during the next 3 months and, with a 90% probability hold a price between $18.52 and $24.24 at the end of this 3-month period.
Signals & Forecast
The Corcept Therapeutics Incorporated 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 $22.68. On a fall, the stock will find some support from the long-term average at approximately $20.68. 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. 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, November 22, 2021, and so far it has fallen -7.93%. Further fall is indicated until a new bottom pivot has been found. 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
Corcept Therapeutics Incorporated finds support from accumulated volume at $20.51 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.19 between high and low, or 5.56%. For the last week, the stock has had a daily average volatility of 3.58%.
Our recommended stop-loss: $20.23 (-5.88%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Is Corcept Therapeutics Incorporated stock A Buy?
Corcept Therapeutics Incorporated holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.589
Predicted Opening Price for Corcept Therapeutics Incorporated of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Jul 30, 2021 "HC Wainwright" gave "" rating for CORT. The price target was changed from $20.29 to 0.5%.
CORT Insider Trading
|Oct 05, 2021||Sell||637||Maduck Sean||Stock Option (Right to Buy)|
|Oct 05, 2021||Sell||24 363||Maduck Sean||Stock Option (Right to Buy)|
|Oct 05, 2021||Buy||637||Maduck Sean||Common Stock|
|Oct 05, 2021||Sell||637||Maduck Sean||Common Stock|
|Oct 01, 2021||Buy||24 363||Maduck Sean||Common Stock|
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