Corcept Therapeutics Incorporated Stock Forecast
Corcept Therapeutics Incorporated stock price up 2.30% on Wednesday
(Updated on Mar 27, 2024)
The Corcept Therapeutics Incorporated stock price gained 2.30% on the last trading day (Wednesday, 27th Mar 2024), rising from $24.75 to $25.32. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.13% from a day low at $24.59 to a day high of $25.36. The price has risen in 6 of the last 10 days and is up by 4.63% 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, 191 thousand more shares were traded than the day before. In total, 714 thousand shares were bought and sold for approximately $18.09 million.
The stock 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 -4.87% during the next 3 months and, with a 90% probability hold a price between $19.10 and $29.75 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CORT Signals & Forecast
Mostly positive signals in the chart today. The Corcept Therapeutics Incorporated 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 $24.66 and $23.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 31, 2024, and so far it has risen 20.00%. 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 Corcept Therapeutics Incorporated stock
Corcept Therapeutics Incorporated finds support from accumulated volume at $24.16 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 $0.770 (3.13%) between high and low. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: $24.40 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (CORT) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Corcept Therapeutics Incorporated to open at $25.09, and during the day (based on 14 day Average True Range), to move between $24.37 and $26.27, which gives a possible trading interval of +/-$0.95 (+/-3.76%) up or down from last closing price. If Corcept Therapeutics Incorporated takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.34 (0.08%) than the support at $24.16 (4.58%), 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.
Is Corcept Therapeutics Incorporated 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: 3.715 Buy Candidate Unchanged
Predicted Opening Price for Corcept Therapeutics Incorporated of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$25.09 ( 0.91%) | $25.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CORT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.86 | 2.13 % | |
R2 | 25.57 | 0.97 % | ||
R1 | 25.38 | 0.253 % | ||
Current price: | 25.32 | |||
Support | S1 | 24.80 | -2.07 % | |
S2 | 24.61 | -2.79 % | ||
S3 | 24.32 | -3.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.46 | 8.45 % | |
R2 | 25.39 | 0.276 % | ||
R1 | 25.34 | 0.0790 % | ||
Current price | 25.32 | |||
Support | S1 | 24.16 | -4.58% | |
S2 | 23.56 | -6.95% | ||
S3 | 21.66 | -14.45% |
FAQ
Click here for our free guide on how to buy Corcept Therapeutics Incorporated Stock.