Halozyme Therapeutics Stock Forecast
Halozyme Therapeutics stock price down 0.49813200498131% on Friday
(Updated on Dec 08, 2023)
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The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Halozyme Therapeutics stock with a 90% probability to be traded between $34.11 and $42.23 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
HALO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, November 27, 2023, and so far it has fallen -2.23%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Halozyme Therapeutics 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 $39.77 and $37.58. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Monday, November 27, 2023 and based on theory for this formation the price should fall by -29.24% to $28.27 within 52 trading days since signal was issued (Monday, December 11, 2023).
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Support, Risk & Stop-loss for Halozyme Therapeutics stock
Halozyme Therapeutics finds support from accumulated volume at $39.22 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 $1.59 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: $38.56 (-3.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (HALO) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Halozyme Therapeutics to open at $40.16, and during the day (based on 14 day Average True Range), to move between $38.59 and $41.31, which gives a possible trading interval of +/-$1.36 (+/-3.40%) up or down from last closing price. If Halozyme Therapeutics takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40.11 (0.40%) than the support at $39.22 (1.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Halozyme Therapeutics stock A Buy?
Halozyme Therapeutics 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.
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Hold/Accumulate UnchangedPredicted Opening Price for Halozyme Therapeutics of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price December 11, 2023 | Current price |
|---|---|
| $40.16 | $39.95 (Undervalued) |
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Trading levels for HALO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.76 | 4.52 % | |
| R2 | 41.15 | 3.00 % | ||
| R1 | 40.77 | 2.05 % | ||
| Current price: | 39.95 | |||
| Support | S1 | 39.55 | -1.00 % | |
| S2 | 39.18 | -1.94 % | ||
| S3 | 38.57 | -3.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.03 | 2.70 % | |
| R2 | 40.29 | 0.85 % | ||
| R1 | 40.11 | 0.401 % | ||
| Current price | 39.95 | |||
| Support | S1 | 39.22 | -1.83% | |
| S2 | 38.80 | -2.88% | ||
| S3 | 37.50 | -6.13% |
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