TG Therapeutics Stock Forecast
TG Therapeutics stock upgraded to Hold/Accumulate.
(Updated on Jun 17, 2024)
The TG Therapeutics stock price gained 0.121% on the last trading day (Monday, 17th Jun 2024), rising from $16.55 to $16.57. During the last trading day the stock fluctuated 3.20% from a day low at $16.21 to a day high of $16.73. The price has risen in 6 of the last 10 days and is up by 1.47% over the past 2 weeks. Volume fell on the last day by -368 thousand shares and in total, 2 million shares were bought and sold for approximately $25.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.26% during the next 3 months and, with a 90% probability hold a price between $16.91 and $21.75 at the end of this 3-month period.
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TGTX Signals & Forecast
The TG 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 $16.37 and $16.49. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Tuesday, May 14, 2024, and so far it has fallen -7.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for TG Therapeutics stock
TG Therapeutics finds support from accumulated volume at $16.48 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 $0.520 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: $15.65 (-5.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (TGTX) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect TG Therapeutics to open at $16.50, and during the day (based on 14 day Average True Range), to move between $15.82 and $17.32, which gives a possible trading interval of +/-$0.754 (+/-4.55%) up or down from last closing price. If TG Therapeutics takes out the full calculated possible swing range there will be an estimated 9.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.48 (0.54%) than the resistance at $17.12 (3.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TG Therapeutics stock A Buy?
TG 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.725 Hold/Accumulate Upgraded
Predicted Opening Price for TG Therapeutics of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $16.50 ( 0.401%) | $16.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGTX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.02 | 2.73% |
| R2 | 16.82 | 1.54% |
| R1 | 16.70 | 0.796% |
| Price | 16.57 | |
| S1 | 16.31 | -1.60% |
| S2 | 16.18 | -2.34% |
| S3 | 15.98 | -3.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.32 | 4.53% |
| R2 | 17.18 | 3.68% |
| R1 | 17.12 | 3.32% |
| Price | 16.57 | |
| S1 | 16.48 | -0.543% |
| S2 | 16.42 | -0.91% |
| S3 | 15.88 | -4.16% |
FAQ
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