Sarepta Therapeutics Stock Forecast
Sarepta Therapeutics stock price ended at $117.89 on Wednesday, after gaining 0.512%.
(Updated on Apr 17, 2024)
The Sarepta Therapeutics stock price gained 0.512% on the last trading day (Wednesday, 17th Apr 2024), rising from $117.29 to $117.89. During the last trading day the stock fluctuated 2.72% from a day low at $115.93 to a day high of $119.08. The price has fallen in 6 of the last 10 days and is down by -7.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 thousand more shares were traded than the day before. In total, 525 thousand shares were bought and sold for approximately $61.85 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $117.33 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Sarepta Therapeutics stock with a 90% probability to be traded between $119.15 and $144.98 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.
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SRPT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.512%. 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 Sarepta Therapeutics stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $122.01 and $125.02. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sarepta Therapeutics stock
Sarepta Therapeutics finds support from accumulated volume at $117.29 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 $3.15 between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 2.93%.
Sarepta Therapeutics is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $110.13 (-6.59%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 11 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SRPT) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Sarepta Therapeutics to open at $117.63, and during the day (based on 14 day Average True Range), to move between $114.50 and $121.28, which gives a possible trading interval of +/-$3.39 (+/-2.87%) up or down from last closing price. If Sarepta Therapeutics takes out the full calculated possible swing range there will be an estimated 5.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $117.29 (0.51%) than the resistance at $127.90 (8.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sarepta Therapeutics stock A Buy?
Sarepta Therapeutics holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.088 Hold/Accumulate Unchanged
Predicted Opening Price for Sarepta Therapeutics of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $117.63 ( 0.218%) | $117.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.78 | 2.45 % | |
| R2 | 119.58 | 1.43 % | ||
| R1 | 118.84 | 0.80 % | ||
| Current price: | 117.89 | |||
| Support | S1 | 116.43 | -1.24 % | |
| S2 | 115.69 | -1.87 % | ||
| S3 | 114.48 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.61 | 14.18 % | |
| R2 | 128.67 | 9.14 % | ||
| R1 | 127.90 | 8.49 % | ||
| Current price | 117.89 | |||
| Support | S1 | 117.29 | -0.509% | |
| S2 | 116.80 | -0.92% | ||
| S3 | 115.64 | -1.91% |
FAQ
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