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AI Analysis of LGND
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Weaker technical forecast for Ligand Pharmaceuticals Incorporated as stock downgraded to Hold/Accumulate.
(Updated on Apr 12, 2024)

Buy or Hold candidate since Mar 28, 2024 Gain 11.30% PDF

The Ligand Pharmaceuticals Incorporated stock price fell by -0.0860% on the last day (Friday, 12th Apr 2024) from $81.43 to $81.36. During the last trading day the stock fluctuated 1.55% from a day low at $80.43 to a day high of $81.68. The price has risen in 6 of the last 10 days and is up by 11.3% over the past 2 weeks. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 171 thousand shares were bought and sold for approximately $13.94 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 2.95% during the next 3 months and, with a 90% probability hold a price between $71.19 and $93.24 at the end of this 3-month period.

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LGND Signals & Forecast

The Ligand Pharmaceuticals Incorporated 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 $80.09 and $75.35. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 09, 2024, and so far it has fallen -0.172%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Ligand Pharmaceuticals Incorporated stock

Ligand Pharmaceuticals Incorporated finds support from accumulated volume at $79.35 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 $1.25 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 2.49%.

Our recommended stop-loss: $79.36 (-2.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (LGND) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect Ligand Pharmaceuticals Incorporated to open at $81.16, and during the day (based on 14 day Average True Range), to move between $78.87 and $83.85, which gives a possible trading interval of +/-$2.49 (+/-3.06%) up or down from last closing price. If Ligand Pharmaceuticals Incorporated takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $81.43 (0.09%) than the support at $79.35 (2.47%), 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 Ligand Pharmaceuticals Incorporated stock A Buy?

Ligand Pharmaceuticals 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. 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: 0.717 Hold/Accumulate Downgraded

Predicted Opening Price for Ligand Pharmaceuticals Incorporated of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$81.16 ( 0.250%) $81.36

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

Trading levels for LGND

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 82.41 1.29 %
R2 81.93 0.700 %
R1 81.63 0.337 %
Current price: 81.36
Support S1 80.68 -0.84 %
S2 80.38 -1.20 %
S3 79.91 -1.79 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 89.20 9.64 %
R2 84.35 3.68 %
R1 81.43 0.0860 %
Current price 81.36
Support S1 79.35 -2.47%
S2 77.98 -4.15%
S3 71.09 -12.62%

LGND Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jul 02, 2010 Jul 02, 2010 Jul 01, 2010 $0.456 5.43%
2 Mar 21, 2007 Apr 03, 2007 Apr 19, 2007 $9.36 21.97%

FAQ

What is the symbol for Ligand Pharmaceuticals Incorporated Stock and on which exchange is it traded?
The symbol for Ligand Pharmaceuticals Incorporated is LGND and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Ligand Pharmaceuticals Incorporated Stock?
Ligand Pharmaceuticals 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. 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.

How to buy Ligand Pharmaceuticals Incorporated Stock?
Ligand Pharmaceuticals Incorporated Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ligand Pharmaceuticals Incorporated Stock.

What's the current price of Ligand Pharmaceuticals Incorporated Stock?
As of the end of day on the 2024-04-12, the price of an Ligand Pharmaceuticals Incorporated (LGND) share was $81.36.

What is the 52-week high and low for Ligand Pharmaceuticals Incorporated Stock?
The 52-week high for Ligand Pharmaceuticals Incorporated Stock is $94.57 and the 52-week low is $49.25.

What is the market capitalization of Ligand Pharmaceuticals Incorporated Stock?
As of the 2024-04-12, the market capitalization of Ligand Pharmaceuticals Incorporated is 1.441B.

When is the next earnings date for Ligand Pharmaceuticals Incorporated?
The upcoming earnings date for Ligand Pharmaceuticals Incorporated is May 02, 2024.
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About Ligand Pharmaceuticals Incorporated

Ligand Pharmaceuticalsorporated Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease ca... LGND Profile

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