Madrigal Pharmaceuticals, Inc. Stock Forecast
Madrigal Pharmaceuticals, Inc. stock price down 2.21% on Monday
(Updated on Apr 15, 2024)
The Madrigal Pharmaceuticals, Inc. stock price fell by -2.21% on the last day (Monday, 15th Apr 2024) from $236.59 to $231.37. During the last trading day the stock fluctuated 6.03% from a day low at $229.01 to a day high of $242.82. The price has been going up and down for this period, and there has been a -9.53% loss for the last 2 weeks. Volume has increased on the last day by 28 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, 323 thousand shares were bought and sold for approximately $74.70 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 15.63% during the next 3 months and, with a 90% probability hold a price between $231.67 and $341.65 at the end of this 3-month period.
MDGL Signals & Forecast
There are few to no technical positive signals at the moment. The Madrigal Pharmaceuticals, Inc. 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 $242.70 and $251.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -18.31%. 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.
Support, Risk & Stop-loss for Madrigal Pharmaceuticals, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $216.33 and $201.44. 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, Madrigal Pharmaceuticals, Inc. finds support just below today's level at $216.33. If this is broken, then the next support from accumulated volume will be at $201.44 and $188.54.
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 $13.81 between high and low, or 6.03%. For the last week, the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDGL) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Madrigal Pharmaceuticals, Inc. to open at $234.40, and during the day (based on 14 day Average True Range), to move between $218.68 and $244.06, which gives a possible trading interval of +/-$12.69 (+/-5.48%) up or down from last closing price. If Madrigal Pharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 10.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $216.33 (6.50%) than the resistance at $265.68 (14.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Madrigal Pharmaceuticals, Inc. stock A Buy?
The Madrigal Pharmaceuticals, Inc. stock holds several negative signals and despite the positive trend, we believe Madrigal Pharmaceuticals, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.841 Sell Candidate Unchanged
Predicted Opening Price for Madrigal Pharmaceuticals, Inc. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $234.40 ( 1.31%) | $231.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDGL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 248.21 | 7.28 % | |
| R2 | 242.93 | 5.00 % | ||
| R1 | 239.68 | 3.59 % | ||
| Current price: | 231.37 | |||
| Support | S1 | 229.12 | -0.97 % | |
| S2 | 225.87 | -2.38 % | ||
| S3 | 220.59 | -4.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 283.23 | 22.41 % | |
| R2 | 270.37 | 16.86 % | ||
| R1 | 265.68 | 14.83 % | ||
| Current price | 231.37 | |||
| Support | S1 | 216.33 | -6.50% | |
| S2 | 201.44 | -12.94% | ||
| S3 | 188.54 | -18.51% |
FAQ
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