MacroGenics Stock Forecast

High volatility in MacroGenics stock price on Wednesday which ended trading at $15.55
(Updated on May 01, 2024)

MGNX Signals & Forecast

There are mixed signals in the stock today. The MacroGenics stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.83. On a fall, the stock will find some support from the short-term average at $15.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -15.99%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for MacroGenics stock

MacroGenics finds support from accumulated volume at $15.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $1.53 between high and low, or 10.36%. For the last week, the stock has had daily average volatility of 7.46%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MGNX) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect MacroGenics to open at $15.54, and during the day (based on 14 day Average True Range), to move between $14.41 and $16.69, which gives a possible trading interval of +/-$1.14 (+/-7.30%) up or down from last closing price. If MacroGenics takes out the full calculated possible swing range there will be an estimated 14.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.45 (0.68%) than the resistance at $15.93 (2.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MacroGenics stock A Buy?

MacroGenics holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.368 Sell Candidate Unchanged

Predicted Opening Price for MacroGenics of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.