MorphoSys AG Stock Forecast
Stronger technical forecast for MorphoSys AG stock price after Monday trading.
(Updated on May 20, 2024)
The MorphoSys AG stock price fell by -1.80% on the last day (Monday, 20th May 2024) from 69.35€ to 68.10€. During the last trading day the stock fluctuated 2.21% from a day low at 68.00€ to a day high of 69.50€. The price has risen in 6 of the last 10 days and is up by 1.79% over the past 2 weeks. Volume has increased on the last day by 490 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, 684 thousand shares were bought and sold for approximately 46.61€ million.
The stock lies in the middle of a narrow 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 4.14% during the next 3 months and, with a 90% probability hold a price between 69.03€ and 72.27€ at the end of this 3-month period.
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MOR.F Signals & Forecast
The MorphoSys AG 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 68.09€ and 67.40€. 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 Friday, May 17, 2024, and so far it has fallen -1.80%. 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 MorphoSys AG stock
MorphoSys AG finds support from accumulated volume at 67.95€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 1.50€ between high and low, or 2.21%. For the last week the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: 66.21€ (-2.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (MOR.F) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect MorphoSys AG to open at 68.53€, and during the day (based on 14 day Average True Range), to move between 67.34€ and 68.86€, which gives a possible trading interval of +/-0.762€ (+/-1.12%) up or down from last closing price. If MorphoSys AG takes out the full calculated possible swing range there will be an estimated 2.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 67.95€ (0.22%) than the resistance at 69.05€ (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MorphoSys AG 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 MorphoSys AG stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.668 Buy Candidate Upgraded
Predicted Opening Price for MorphoSys AG of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| 68.53€ ( 0.636%) | 68.10€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOR.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.03 | 2.84 % | |
| R2 | 69.46 | 2.00 % | ||
| R1 | 69.11 | 1.48 % | ||
| Current price: | 68.10 | |||
| Support | S1 | 67.96 | -0.205 % | |
| S2 | 67.61 | -0.725 % | ||
| S3 | 67.03 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 69.35 | 1.84 % | ||
| R1 | 69.05 | 1.40 % | ||
| Current price | 68.10 | |||
| Support | S1 | 67.95 | -0.220% | |
| S2 | 67.70 | -0.587% | ||
| S3 | 65.65 | -3.60% |
FAQ
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