Lexicon Pharmaceuticals Stock Forecast
High volatility in Lexicon Pharmaceuticals stock price on Friday which ended trading at $1.74
(Updated on May 03, 2024)
The Lexicon Pharmaceuticals stock price gained 2.35% on the last trading day (Friday, 3rd May 2024), rising from $1.70 to $1.74. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 22.34% from a day low at $1.65 to a day high of $2.02. The price has been going up and down for this period, and there has been a 5.45% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $10.17 million.
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 -31.55% during the next 3 months and, with a 90% probability hold a price between $0.597 and $1.75 at the end of this 3-month period.
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LXRX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Lexicon Pharmaceuticals stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.97. On a fall, the stock will find some support from the short-term average at $1.62. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -51.40%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Lexicon Pharmaceuticals stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.65 and $1.62. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lexicon Pharmaceuticals finds support just below today's level at $1.65. If this is broken, then the next support from accumulated volume will be at $1.62 and $1.54.
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 $0.369 between high and low, or 22.34%. For the last week, the stock has had daily average volatility of 12.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LXRX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Lexicon Pharmaceuticals to open at $1.80, and during the day (based on 14 day Average True Range), to move between $1.57 and $1.91, which gives a possible trading interval of +/-$0.171 (+/-9.82%) up or down from last closing price. If Lexicon Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 19.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.65 (5.17%) than the resistance at $1.98 (13.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lexicon Pharmaceuticals stock A Buy?
Lexicon Pharmaceuticals holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.594 Sell Candidate Unchanged
Predicted Opening Price for Lexicon Pharmaceuticals of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$1.80 ( 3.61%) | $1.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LXRX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.17 | 24.80 % | |
R2 | 2.03 | 16.70 % | ||
R1 | 1.94 | 11.71 % | ||
Current price: | 1.74 | |||
Support | S1 | 1.66 | -4.48 % | |
S2 | 1.58 | -9.48 % | ||
S3 | 1.43 | -17.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.15 | 23.56 % | |
R2 | 2.04 | 17.24 % | ||
R1 | 1.98 | 13.79 % | ||
Current price | 1.74 | |||
Support | S1 | 1.65 | -5.17% | |
S2 | 1.62 | -6.90% | ||
S3 | 1.54 | -11.49% |
FAQ
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