Weaker Buy Today IMGN ranks #1165 as BUY CANDIDATE #1165 Stronger Buy

IMGN stock forecast ImmunoGen

IMGN stock forecast

Friday January 17, 2020 Change -5.59% Price $4.56
Your prediction: Prediction: Request
VOLUME
Buy
TREND
Buy
MV LONG
Buy

MV SHORT
Sell

PIVOT
Sell

MACD
Sell
Bullish vs. Bearish (2 opinions)
50%
50%
Social Sentiment -0.16

IMGN Forecast and Technical Stock Analysis


Buy candidate since 2020-01-14 Loss -0.65% PDF

ImmunoGen fell by -5.59% in the last day ( Friday, 17th Jan 2020 ) from $4.83 to $4.56 and has now fallen 3 days in a row. During the day the stock fluctuated 8.57% from a day low at $4.55 to a day high of $4.94. The price has been going up and down for this period, and there has been a -1.51% loss for the last 2 weeks. Volume has increased in the last day by 0.21 million shares but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.69 million shares bought and sold for approximately $7.70 million.

Quick summary:

  • 30 day high of the IMGN stock price was $5.97 and low was $4.35.
  • 90 day high was $5.97 and low was $2.38.
  • 52 week high for ImmunoGen - $6.13 and low - $1.76.
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Trend

ImmunoGen lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. A break down the bottom trend line at $4.36 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 74.28% during the next 3 months and, with 90% probability hold a price between $7.60 and $11.27 at the end of this period.

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Signals

There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday January 15, 2020, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. ImmunoGen holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $4.70. On a fall, the stock will find some support from the long-term average at approximately $4.51. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.

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A sell signal from a double top formation was found on Wednesday January 15, 2020 and based on theory for this formation the price should fall by -0.77% to $4.20 within 5 trading days since signal was issued (Thursday January 23, 2020).

Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 38 and the stock is currently not being overbought or oversold

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $3.89 and $3.80.

There is 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, ImmunoGen finds support just below today's level at $3.89. If this is broken, then the next support from accumulated volume will be at $3.80 and $3.74.

Support: $3.89 Price: $4.56 Resistance: $4.62

Risk

This stock may move much during a 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 $0.39 between high and low, or 8.57%. For the last week, the stock has had a daily average volatility of 7.87%.

Our recommended stop-loss: $4.28 (-6.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 day(s) ago.)

7.87 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Upgraded

Evaluation

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 this stock to perform well in the short-term.

Weaker Buy Today IMGN ranks #1165 as BUY CANDIDATE #1165 Stronger Buy
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