Green day on Monday for Neurocrine Biosciences
(Updated on Nov 27, 2023)
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The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Neurocrine Biosciences stock with a 90% probability to be traded between $105.63 and $116.44 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
NBIX Signals & Forecast
The Neurocrine Biosciences stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $110.42 and $111.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, November 10, 2023, and so far it has risen 5.46%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Neurocrine Biosciences stock
Neurocrine Biosciences finds support from accumulated volume at $112.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.71 (2.45%) between high and low. For the last week, the stock has had daily average volatility of 2.00%.
Since the Neurocrine Biosciences has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $107.43 (-4.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (NBIX) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Neurocrine Biosciences to open at $112.26, and during the day (based on 14 day Average True Range), to move between $110.21 and $115.83, which gives a possible trading interval of +/-$2.81 (+/-2.48%) up or down from last closing price. If Neurocrine Biosciences takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $112.45 (0.50%) than the resistance at $115.30 (2.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Neurocrine Biosciences stock A Buy?
Neurocrine Biosciences holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.673 Open Broker AccountHold/Accumulate Unchanged
Predicted Opening Price for Neurocrine Biosciences of Tuesday, November 28, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 28, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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