PepGen Inc. Stock Forecast
Weaker technical forecast for PepGen Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The PepGen Inc. stock price fell by -2.00% on the last day (Friday, 3rd May 2024) from $14.49 to $14.20. During the last trading day the stock fluctuated 9.10% from a day low at $13.95 to a day high of $15.22. The price has risen in 7 of the last 10 days and is up by 34.79% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -53 thousand shares and in total, 106 thousand shares were bought and sold for approximately $1.50 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 -11.81% during the next 3 months and, with a 90% probability hold a price between $8.99 and $13.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PEPG Signals & Forecast
The PepGen Inc. 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 $12.88 and $12.88. 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 Thursday, May 02, 2024, and so far it has fallen -2.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PepGen Inc. stock
PepGen Inc. finds support from accumulated volume at $14.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.27 between high and low, or 9.10%. For the last week, the stock has had daily average volatility of 10.29%.
Our recommended stop-loss: $13.56 (-4.52%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PEPG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PepGen Inc. to open at $14.46, and during the day (based on 14 day Average True Range), to move between $12.99 and $15.41, which gives a possible trading interval of +/-$1.21 (+/-8.52%) up or down from last closing price. If PepGen Inc. takes out the full calculated possible swing range there will be an estimated 17.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.18 (0.14%) than the resistance at $15.09 (6.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
PepGen Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.720. We will update the financials statements for PepGen Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.46% in the first trading day after earnings release.
Is PepGen Inc. stock A Buy?
PepGen Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.601 Hold/Accumulate Downgraded
Predicted Opening Price for PepGen Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $14.46 ( 1.81%) | $14.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEPG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.73 | 10.75 % | |
| R2 | 15.24 | 7.33 % | ||
| R1 | 14.94 | 5.22 % | ||
| Current price: | 14.20 | |||
| Support | S1 | 13.97 | -1.61 % | |
| S2 | 13.67 | -3.72 % | ||
| S3 | 13.19 | -7.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.95 | 19.37 % | |
| R2 | 15.44 | 8.73 % | ||
| R1 | 15.09 | 6.27 % | ||
| Current price | 14.20 | |||
| Support | S1 | 14.18 | -0.141% | |
| S2 | 13.45 | -5.28% | ||
| S3 | 12.51 | -11.90% |
FAQ
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