Travere Therapeutics, Inc. Stock Forecast
Volatile ride for Travere Therapeutics, Inc. stock price on Tuesday moving between $6.74 and $7.69
(Updated on May 07, 2024)
The Travere Therapeutics, Inc. stock price gained 3.05% on the last trading day (Tuesday, 7th May 2024), rising from $6.55 to $6.75. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 14.09% from a day low at $6.74 to a day high of $7.69. The price has risen in 7 of the last 10 days and is up by 17.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 553 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $12.77 million.
Given the current short-term trend, the stock is expected to fall -30.96% during the next 3 months and, with a 90% probability hold a price between $3.39 and $4.66 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TVTX Signals & Forecast
The Travere Therapeutics, Inc. 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 $6.10 and $6.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 28.33%. 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 Travere Therapeutics, Inc. stock
Travere Therapeutics, Inc. finds support from accumulated volume at $6.67 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 $0.95 between high and low, or 14.09%. For the last week, the stock has had daily average volatility of 8.72%.
Since the Travere Therapeutics, Inc. has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $6.50 (-3.70%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TVTX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Travere Therapeutics, Inc. to open at $7.06, and during the day (based on 14 day Average True Range), to move between $6.30 and $7.20, which gives a possible trading interval of +/-$0.450 (+/-6.66%) up or down from last closing price. If Travere Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 13.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.67 (1.19%) than the resistance at $7.49 (10.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Travere Therapeutics, Inc. stock A Buy?
Travere Therapeutics, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Travere Therapeutics, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $7.06 ( 4.59%) | $6.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TVTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.01 | 18.67 % | |
| R2 | 7.65 | 13.29 % | ||
| R1 | 7.42 | 9.97 % | ||
| Current price: | 6.75 | |||
| Support | S1 | 6.70 | -0.784 % | |
| S2 | 6.47 | -4.11 % | ||
| S3 | 6.11 | -9.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.99 | 18.37 % | |
| R2 | 7.88 | 16.74 % | ||
| R1 | 7.49 | 10.96 % | ||
| Current price | 6.75 | |||
| Support | S1 | 6.67 | -1.19% | |
| S2 | 6.00 | -11.11% | ||
| S3 | 5.39 | -20.15% |
FAQ
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