Enanta Pharmaceuticals Stock Forecast
Enanta Pharmaceuticals stock upgraded to Buy Candidate.
(Updated on Jul 03, 2024)
The Enanta Pharmaceuticals stock price fell by -2.30% on the last day (Wednesday, 3rd Jul 2024) from $13.45 to $13.14. During the last trading day the stock fluctuated 8.00% from a day low at $12.94 to a day high of $13.98. The price has risen in 7 of the last 10 days and is up by 11.07% over the past 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 -13 thousand shares and in total, 64 thousand shares were bought and sold for approximately $835.11 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.42% during the next 3 months and, with a 90% probability hold a price between $8.82 and $11.05 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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ENTA Signals & Forecast
The Enanta Pharmaceuticals 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 $12.82 and $12.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 14.96%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Enanta Pharmaceuticals stock
Enanta Pharmaceuticals finds support from accumulated volume at $12.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.04 between high and low, or 8.00%. For the last week the stock has had daily average volatility of 7.05%.
Our recommended stop-loss: $12.61 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (ENTA) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Enanta Pharmaceuticals to open at $13.35, and during the day (based on 14 day Average True Range), to move between $12.42 and $13.86, which gives a possible trading interval of +/-$0.720 (+/-5.48%) up or down from last closing price. If Enanta Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 10.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.91 (1.75%) than the resistance at $13.43 (2.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enanta Pharmaceuticals 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: 2.275 Buy Candidate Upgraded
Predicted Opening Price for Enanta Pharmaceuticals of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $13.35 ( 1.61%) | $13.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENTA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.39 | 9.49% |
| R2 | 13.99 | 6.48% |
| R1 | 13.75 | 4.62% |
| Price | 13.14 | |
| S1 | 12.96 | -1.40% |
| S2 | 12.71 | -3.26% |
| S3 | 12.32 | -6.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.18 | 23.14% |
| R2 | 15.36 | 16.89% |
| R1 | 13.43 | 2.21% |
| Price | 13.14 | |
| S1 | 12.91 | -1.75% |
| S2 | 12.47 | -5.10% |
| S3 | 11.93 | -9.21% |
FAQ
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