Ascendis Pharma A/S Stock Forecast
Ascendis Pharma A/S stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Ascendis Pharma A/S stock price fell by -0.90% on the last day (Thursday, 18th Apr 2024) from $142.17 to $140.89. During the last trading day the stock fluctuated 2.10% from a day low at $140.23 to a day high of $143.18. The price has fallen in 7 of the last 10 days and is down by -4.58% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -72 thousand shares and in total, 218 thousand shares were bought and sold for approximately $30.70 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $139.70 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.64% during the next 3 months and, with a 90% probability hold a price between $150.37 and $179.39 at the end of this 3-month period.
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ASND Signals & Forecast
There are few to no technical positive signals at the moment. The Ascendis Pharma A/S stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $145.64 and $148.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -11.61%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ascendis Pharma A/S stock
Ascendis Pharma A/S finds support from accumulated volume at $139.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.95 (2.10%) between high and low. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: $132.01 (-6.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (ASND) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Ascendis Pharma A/S to open at $141.43, and during the day (based on 14 day Average True Range), to move between $135.91 and $145.87, which gives a possible trading interval of +/-$4.98 (+/-3.53%) up or down from last closing price. If Ascendis Pharma A/S takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $141.63 (0.53%) than the support at $139.29 (1.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Ascendis Pharma A/S will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.59. We will update the financials statements for Ascendis Pharma A/S, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.65% in the first trading day after earnings release.
Is Ascendis Pharma A/S stock A Buy?
Ascendis Pharma A/S 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: -0.559 Hold/Accumulate Upgraded
Predicted Opening Price for Ascendis Pharma A/S of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $141.43 ( 0.386%) | $140.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASND
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 144.38 | 2.48 % | |
| R2 | 143.26 | 1.68 % | ||
| R1 | 142.56 | 1.19 % | ||
| Current price: | 140.89 | |||
| Support | S1 | 140.31 | -0.414 % | |
| S2 | 139.61 | -0.91 % | ||
| S3 | 138.48 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 145.37 | 3.18 % | |
| R2 | 143.35 | 1.75 % | ||
| R1 | 141.63 | 0.525 % | ||
| Current price | 140.89 | |||
| Support | S1 | 139.29 | -1.14% | |
| S2 | 139.25 | -1.16% | ||
| S3 | 129.93 | -7.78% |
FAQ
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