Weaker technical forecast for Madrigal Pharmaceuticals, Inc. as stock downgraded to Sell Candidate.
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-24 Loss -3.62% PDF
The Madrigal Pharmaceuticals, Inc. stock price fell by -3.62% on the last day (Friday, 26th Nov 2021) from $85.14 to $82.06. During the day the stock fluctuated 4.49% from a day low at $81.00 to a day high of $84.64. The price has fallen in 8 of the last 10 days and is down by -10.71% for this period. Volume has increased on the last day by 23 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, 93 thousand shares were bought and sold for approximately $7.63 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $80.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.51% during the next 3 months and, with a 90% probability hold a price between $87.04 and $103.96 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, November 22, 2021, and so far it has risen 1.76%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $83.23 and $84.25. A break-up above any of these levels will issue buy signals. 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
Madrigal Pharmaceuticals, Inc. finds support from accumulated volume at $81.74 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 $3.64 between high and low, or 4.49%. For the last week, the stock has had a daily average volatility of 4.70%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
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. 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 Sell candidate.
Current score: -1.296
Predicted Opening Price for Madrigal Pharmaceuticals, Inc. of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Nov 17, 2021 "JMP Securities" gave "$219.00" rating for MDGL. The price target was changed from $86.99 to 2.8%.
MDGL Insider Trading
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