PTC Therapeutics Stock Forecast
Volatile ride for PTC Therapeutics stock price on Monday moving between $29.11 and $32.61
(Updated on Apr 29, 2024)
The PTC Therapeutics stock price gained 12.50% on the last trading day (Monday, 29th Apr 2024), rising from $28.57 to $32.14. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.03% from a day low at $29.11 to a day high of $32.61. The price has been going up and down for this period, and there has been a 25.16% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 120 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $52.09 million.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $32.53 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.84% during the next 3 months and, with a 90% probability hold a price between $25.49 and $33.45 at the end of this 3-month period.
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PTCT Signals & Forecast
Mostly positive signals in the chart today. The PTC Therapeutics 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 $26.87 and $28.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 30.17%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for PTC Therapeutics stock
PTC Therapeutics finds support from accumulated volume at $31.95 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 $3.50 between high and low, or 12.03%. For the last week, the stock has had daily average volatility of 8.39%.
Our recommended stop-loss: $30.97 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (PTCT) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect PTC Therapeutics to open at $31.29, and during the day (based on 14 day Average True Range), to move between $30.46 and $33.82, which gives a possible trading interval of +/-$1.68 (+/-5.24%) up or down from last closing price. If PTC Therapeutics takes out the full calculated possible swing range there will be an estimated 10.48% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $31.95, some $0.190 (0.59%) from the current price of $32.14, our system finds the risk reward attractive.
Is PTC Therapeutics 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 PTC Therapeutics stock to perform well in the short-term.
Current score: 4.324 Buy Candidate Unchanged
Predicted Opening Price for PTC Therapeutics of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $31.29 ( 2.66%) | $32.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTCT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.79 | 8.24 % | |
| R2 | 33.45 | 4.08 % | ||
| R1 | 32.62 | 1.51 % | ||
| Current price: | 32.14 | |||
| Support | S1 | 29.95 | -6.82 % | |
| S2 | 29.12 | -9.39 % | ||
| S3 | 27.78 | -13.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 32.14 | |||
| Support | S1 | 31.95 | -0.591% | |
| S2 | 29.55 | -8.06% | ||
| S3 | 25.32 | -21.22% |
FAQ
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