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Spectrum Pharmaceuticals Stock Forecast NASDAQ:SPPI

$1.53 (10.87%)

Volume: 5M

Closed: Dec 07, 2021

Hollow Logo Score: -4.173

Spectrum Pharmaceuticals Stock Forecast

$1.53 (10.87%)

Volume: 5M

Closed: Dec 07, 2021

Score Hollow Logo -4.173
Which way will SPPI go? Request
Key Stats
Beta 1.34
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 28 and the stock is currently not being overbought or oversold

High volatility in Spectrum Pharmaceuticals stock price on Tuesday which ended trading at $1.53
(Updated on Dec 07, 2021)


Sell candidate since 2021-11-09 Loss -27.49%

The Spectrum Pharmaceuticals stock price gained 10.87% on the last trading day (Tuesday, 7th Dec 2021), rising from $1.38 to $1.53. , and 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 day the stock fluctuated 10.49% from a day low at $1.43 to a day high of $1.58. The price has been going up and down for this period, and there has been a -11.05% loss 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, 658 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $7.14 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 -23.52% during the next 3 months and, with a 90% probability hold a price between $1.03 and $1.67 at the end of this 3-month period.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 11.68%. 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. The Spectrum Pharmaceuticals stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $1.88. On a fall, the stock will find some support from the short-term average at $1.53. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $1.38 and $1.37. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $1.37 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.15 between high and low, or 10.49%. For the last week, the stock has had a daily average volatility of 14.53%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Spectrum Pharmaceuticals stock A Buy?

Spectrum Pharmaceuticals holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.173

Predicted Opening Price for Spectrum Pharmaceuticals of Wednesday, December 8, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 8, 2021 Current price
$1.51 $1.53 (Overvalued)
Sell Candidate Upgraded

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Analyst Ratings

On Sep 20, 2021 "JMP Securities" gave "$4.00" rating for SPPI. The price target was set to $2.43+4.3%.

Volatility and Risk
Daily Average Volatility: 14.53 %
Overall Risk: Very High High Medium Low Very Low
Volatility
14.53 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $1.58
Price: $1.53
Support: $1.38

SPPI Insider Trading Show all Trades

INSIDER POWER

5.586

Last 100 transactions
Buy: 4 695 587 | Sell: 840 546 (Shares)
Date Action Amount Person Type
Nov 09, 2021 Sell 6 000 Lebel Francois Common Stock, $0.001 par value
Nov 08, 2021 Sell 7 363 Lebel Francois Common Stock, $0.001 par value
Jun 23, 2021 Sell 5 000 Lebel Francois Common Stock, $0.001 par value
Jun 22, 2021 Sell 5 821 Lebel Francois Common Stock, $0.001 par value
Jun 22, 2021 Sell 4 500 Mcgahan Keith M Common Stock, $0.001
Show all Insider Trades
INSIDER POWER

5.586

Last 100 transactions
Buy: 4 695 587 | Sell: 840 546 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 1.66 8.71 %
1.61 4.97 %
1.57 2.66 %
Current price: 1.53
Support 1.46 -4.83 %
1.42 -7.15 %
1.36 -10.89 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 1.76 15.03 %
1.68 9.80 %
1.58 3.27 %
Current price 1.53
Support 1.38 -9.80%
1.37 -10.46%
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About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals Spectrum Pharmaceuticals, Inc., a biotechnology company, develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer, rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish the toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a... Read more

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