Biohaven Pharmaceutical Holding Co Ltd Stock Forecast
High volatility in Biohaven Pharmaceutical Holding Co Ltd stock price on Friday which ended trading at $38.99
(Updated on Apr 19, 2024)
The Biohaven Pharmaceutical Holding Co Ltd stock price fell by -7.52% on the last day (Friday, 19th Apr 2024) from $42.16 to $38.99. During the last trading day the stock fluctuated 14.96% from a day low at $37.61 to a day high of $43.24. The price has fallen in 7 of the last 10 days and is down by -25.76% 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 -254 thousand shares and in total, 3 million shares were bought and sold for approximately $130.74 million.
Given the current short-term trend, the stock is expected to rise 10.28% during the next 3 months and, with a 90% probability hold a price between $43.00 and $68.57 at the end of this 3-month period.
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BHVN Signals & Forecast
There are few to no technical positive signals at the moment. The Biohaven Pharmaceutical Holding Co Ltd 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 $45.76 and $53.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -34.74%. 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 Biohaven Pharmaceutical Holding Co Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $5.63 between high and low, or 14.96%. For the last week, the stock has had daily average volatility of 10.93%.
Biohaven Pharmaceutical Holding Co Ltd is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BHVN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Biohaven Pharmaceutical Holding Company Ltd to open at $39.95, and during the day (based on 14 day Average True Range), to move between $35.60 and $42.38, which gives a possible trading interval of +/-$3.39 (+/-8.69%) up or down from last closing price. If Biohaven Pharmaceutical Holding Company Ltd takes out the full calculated possible swing range there will be an estimated 17.37% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $42.16, some $3.17 (8.13%) from the current price of $38.99, our system finds the risk reward not very attractive.
Is Biohaven Pharmaceutical Holding Company Ltd stock A Buy?
The Biohaven Pharmaceutical Holding Co Ltd stock holds several negative signals and despite the positive trend, we believe Biohaven Pharmaceutical Holding Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.994 Sell Candidate Unchanged
Predicted Opening Price for Biohaven Pharmaceutical Holding Company Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $39.95 ( 2.45%) | $38.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHVN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.57 | 16.88 % | |
| R2 | 43.42 | 11.37 % | ||
| R1 | 42.09 | 7.96 % | ||
| Current price: | 38.99 | |||
| Support | S1 | 37.80 | -3.06 % | |
| S2 | 36.47 | -6.47 % | ||
| S3 | 34.32 | -11.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.77 | 14.82 % | |
| R2 | 43.77 | 12.26 % | ||
| R1 | 42.16 | 8.13 % | ||
| Current price | 38.99 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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