Big movements in Lexicon Pharmaceuticals stock price on Friday moving 10.76% between high and low
(Updated on Aug 05, 2022)

The Lexicon Pharmaceuticals stock price gained 5.20% on the last trading day (Friday, 5th Aug 2022), rising from $2.69 to $2.83. During the last trading day the stock fluctuated 10.76% from a day low at $2.60 to a day high of $2.88. The price has risen in 5 of the last 10 days, but is still down by -8.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 742 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $7.75 million.

The stock lies in the middle of a very wide and strong 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 86.12% during the next 3 months and, with a 90% probability hold a price between $4.16 and $6.42 at the end of this 3-month period.

Signals & Forecast

The Lexicon 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 $2.57 and $2.55. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, July 27, 2022, and so far it has fallen -13.46%. 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).

Support, Risk & Stop-loss

Lexicon Pharmaceuticals finds support from accumulated volume at $2.75 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 $0.28 between high and low, or 10.76%. For the last week, the stock has had a daily average volatility of 6.91%.

Our recommended stop-loss: $2.66 (-6.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations For The Upcoming Trading Day Of Monday 8th

For the upcoming trading day on Monday 8th we expect Lexicon Pharmaceuticals to open at $2.77, and during day (based on 14 day Average True Range), to move between $2.59 and $3.07, which gives a possible trading interval of +/-$0.24 (+/-8.65%) up or down from last closing price. If Lexicon Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 17.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.87 (1.41%) than the support at $2.75 (2.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is Lexicon Pharmaceuticals stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lexicon Pharmaceuticals stock to perform well in the short-term.

Current score: 3.104

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