Genmab A/S Stock Forecast
Genmab A/S stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)
The Genmab A/S stock price fell by -3.58% on the last day (Thursday, 2nd May 2024) from $28.75 to $27.72. During the last trading day the stock fluctuated 3.11% from a day low at $27.42 to a day high of $28.27. The price has been going up and down for this period, and there has been a -2.15% loss 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 -128 thousand shares and in total, 662 thousand shares were bought and sold for approximately $18.36 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.10% during the next 3 months and, with a 90% probability hold a price between $28.09 and $32.75 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GMAB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.95%. 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. The Genmab A/S stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $28.12 and $29.33. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Genmab A/S stock
Genmab A/S finds support from accumulated volume at $27.69 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.85 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: $26.08 (-5.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (GMAB) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Genmab A/S to open at $27.80, and during the day (based on 14 day Average True Range), to move between $26.96 and $28.48, which gives a possible trading interval of +/-$0.759 (+/-2.74%) up or down from last closing price. If Genmab A/S takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.69 (0.11%) than the resistance at $28.23 (1.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Genmab A/S stock A Buy?
Genmab A/S holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.846 Hold/Accumulate Downgraded
Predicted Opening Price for Genmab A/S of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $27.80 ( 0.296%) | $27.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMAB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.66 | 3.38 % | |
| R2 | 28.33 | 2.20 % | ||
| R1 | 28.13 | 1.47 % | ||
| Current price: | 27.72 | |||
| Support | S1 | 27.48 | -0.88 % | |
| S2 | 27.27 | -1.61 % | ||
| S3 | 26.95 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.68 | 14.29 % | |
| R2 | 28.75 | 3.72 % | ||
| R1 | 28.23 | 1.84 % | ||
| Current price | 27.72 | |||
| Support | S1 | 27.69 | -0.108% | |
| S2 | 27.67 | -0.180% | ||
| S3 | 27.59 | -0.469% |
FAQ
Click here for our free guide on how to buy Genmab A/S Stock.
