Theratechnologies Inc. Stock Forecast
Theratechnologies Inc. stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Theratechnologies Inc. stock price fell by -0.357% on the last day (Tuesday, 2nd Jul 2024) from $1.40 to $1.40. During the last trading day the stock fluctuated 2.54% from a day low at $1.38 to a day high of $1.42. The price has risen in 4 of the last 10 days and is up by 8.14% over the past 2 weeks. Volume has increased on the last day by 868 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 thousand shares were bought and sold for approximately $10.81 thousand.
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 -6.99% during the next 3 months and, with a 90% probability hold a price between $1.06 and $1.43 at the end of this 3-month period.
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THTX Signals & Forecast
The Theratechnologies 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 $1.39 and $1.29. 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 Wednesday, June 26, 2024, and so far it has fallen -10.00%. Further fall is indicated until a new bottom pivot has been found. Theratechnologies Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Theratechnologies Inc. stock
Theratechnologies Inc. finds support from accumulated volume at $1.39 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 $0.0350 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 14.19%.
Our recommended stop-loss: $1.34 (-3.74%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (THTX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Theratechnologies Inc. to open at $1.40, and during the day (based on 14 day Average True Range), to move between $1.29 and $1.50, which gives a possible trading interval of +/-$0.100 (+/-7.19%) up or down from last closing price. If Theratechnologies Inc. takes out the full calculated possible swing range there will be an estimated 14.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.39 (0.36%) than the resistance at $1.48 (6.09%), 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
Theratechnologies Inc. will release earnings BMO on Wednesday, July 10, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0200. We will update the financials statements for Theratechnologies Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.18% in the first trading day after earnings release.
Is Theratechnologies Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.086 Buy Candidate Upgraded
Predicted Opening Price for Theratechnologies Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.40 ( 0.119%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THTX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.43 | 2.63% |
| R2 | 1.42 | 1.67% |
| R1 | 1.41 | 1.08% |
| Price | 1.40 | |
| S1 | 1.38 | -0.84% |
| S2 | 1.38 | -1.43% |
| S3 | 1.36 | -2.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.55 | 11.11% |
| R2 | 1.54 | 10.39% |
| R1 | 1.48 | 6.09% |
| Price | 1.40 | |
| S1 | 1.39 | -0.358% |
| S2 | 1.30 | -6.81% |
| S3 | 1.26 | -9.68% |
FAQ
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