Alkermes plc Forecast and Stock Analysis
Technical ALKS stock analysis for February 15, 2019.
Alkermes plc gained 0.12% in the last trading day, rising from $32.50 to $32.54 The price has risen in 6 of the last 10 days , but is still down by -1.63% for this period. Volume fell in the last day by -198 195 shares, and in total, 944 130 shares bought and sold for approximately $30.72 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ALKS stock was $32.54. This is 0.12% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 4.19% from a day low at $32.00 to a day high of $33.34.
30 day high of the ALKS stock price was $34.69 and low was $30.65.
90 day high was $37.64 and low was $27.54.
52 week high for the Alkermes plc - $71.22 and low - $27.54.
Alkermes plc 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 -6.43% during the next 3 months and, with 90% probability hold a price between $24.80 and $32.58 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday February 13, 2019, which indicates further falls until a new bottom pivot has been found. Alkermes plc holds buy signals from both short- and long-term moving averages, 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 $31.94 and $32.00. A break down 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 may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $29.89 and $28.49.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Alkermes plc finds support just below today's level at $29.89. If this is broken, then the next support from accumulated volume will be at $28.49 and $28.45.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.34 (4.19%) between high and low. For the last week, the stock has had a daily average volatility of 4.29%.
Our recommended stoploss: $31.16 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 days ago.)
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Alkermes plc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.