Amphastar Pharmaceuticals Stock Forecast
Amphastar Pharmaceuticals stock price up 0.211% on Tuesday
(Updated on May 07, 2024)
The Amphastar Pharmaceuticals stock price gained 0.211% on the last trading day (Tuesday, 7th May 2024), rising from $42.68 to $42.77. During the last trading day the stock fluctuated 3.64% from a day low at $41.94 to a day high of $43.47. The price has risen in 7 of the last 10 days and is up by 4.55% 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, 39 thousand more shares were traded than the day before. In total, 239 thousand shares were bought and sold for approximately $10.23 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $43.17 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -26.13% during the next 3 months and, with a 90% probability hold a price between $26.15 and $31.89 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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AMPH Signals & Forecast
Mostly positive signals in the chart today. The Amphastar Pharmaceuticals 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 $42.27 and $41.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 10.66%. 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 Amphastar Pharmaceuticals stock
Amphastar Pharmaceuticals finds support from accumulated volume at $42.08 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 $1.53 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: $40.99 (-4.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (AMPH) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Amphastar Pharmaceuticals to open at $42.73, and during the day (based on 14 day Average True Range), to move between $41.59 and $43.95, which gives a possible trading interval of +/-$1.18 (+/-2.75%) up or down from last closing price. If Amphastar Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 5.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.08 (1.61%) than the resistance at $46.22 (8.07%), 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
Amphastar Pharmaceuticals will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.770. We will update the financials statements for Amphastar Pharmaceuticals, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.81% in the first trading day after earnings release.
Is Amphastar Pharmaceuticals 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.
Current score: 1.640 Buy Candidate Unchanged
Predicted Opening Price for Amphastar Pharmaceuticals of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $42.73 ( 0.0998%) | $42.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.26 | 3.47 % | |
| R2 | 43.67 | 2.11 % | ||
| R1 | 43.31 | 1.26 % | ||
| Current price: | 42.77 | |||
| Support | S1 | 42.14 | -1.46 % | |
| S2 | 41.78 | -2.31 % | ||
| S3 | 41.20 | -3.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.68 | 9.14 % | |
| R2 | 46.57 | 8.88 % | ||
| R1 | 46.22 | 8.07 % | ||
| Current price | 42.77 | |||
| Support | S1 | 42.08 | -1.61% | |
| S2 | 40.90 | -4.37% | ||
| S3 | 40.05 | -6.36% |
AMPH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2010 | Jun 11, 2010 | Jun 30, 2010 | $0.300 | 0% |
| 2 | Jun 05, 2009 | Jun 11, 2009 | Jun 30, 2009 | $0.300 | 0% |
FAQ
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