Avadel Pharmaceuticals plc Stock Forecast
Green day on Tuesday for Avadel Pharmaceuticals plc
(Updated on Apr 23, 2024)
The Avadel Pharmaceuticals plc stock price gained 4.57% on the last trading day (Tuesday, 23rd Apr 2024), rising from $17.30 to $18.09. During the last trading day the stock fluctuated 5.39% from a day low at $17.26 to a day high of $18.19. The price has fallen in 6 of the last 10 days but is still up by 7.87% 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, 160 thousand more shares were traded than the day before. In total, 983 thousand shares were bought and sold for approximately $17.79 million.
The stock lies in the upper part of a wide and strong rising 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 $18.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 28.44% during the next 3 months and, with a 90% probability hold a price between $19.33 and $23.66 at the end of this 3-month period.
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AVDL Signals & Forecast
The Avadel Pharmaceuticals plc 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 $17.60 and $16.61. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, April 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Avadel Pharmaceuticals plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.00 and $16.13. There is a 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, Avadel Pharmaceuticals plc finds support just below today's level at $17.00. If this is broken, then the next support from accumulated volume will be at $16.13 and $13.72.
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 $0.93 between high and low, or 5.39%. For the last week, the stock has had daily average volatility of 5.56%.
Our recommended stop-loss: $17.42 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (AVDL) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Avadel Pharmaceuticals plc to open at $17.85, and during the day (based on 14 day Average True Range), to move between $17.13 and $19.05, which gives a possible trading interval of +/-$0.96 (+/-5.32%) up or down from last closing price. If Avadel Pharmaceuticals plc takes out the full calculated possible swing range there will be an estimated 10.63% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $17.00, some $1.09 (6.03%) from the current price of $18.09, our system finds the risk reward attractive.
Is Avadel Pharmaceuticals plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Avadel Pharmaceuticals plc stock to perform well in the short-term.
Current score: 2.826 Buy Candidate Unchanged
Predicted Opening Price for Avadel Pharmaceuticals plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $17.85 ( 1.35%) | $18.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVDL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.78 | 3.80 % | |
| R2 | 18.42 | 1.83 % | ||
| R1 | 18.20 | 0.619 % | ||
| Current price: | 18.09 | |||
| Support | S1 | 17.49 | -3.31 % | |
| S2 | 17.27 | -4.52 % | ||
| S3 | 16.92 | -6.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 18.09 | |||
| Support | S1 | 17.00 | -6.03% | |
| S2 | 16.13 | -10.83% | ||
| S3 | 13.72 | -24.16% |
FAQ
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