Neurocrine Biosciences Stock Forecast
Neurocrine Biosciences stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Neurocrine Biosciences stock price fell by -0.87% on the last day (Thursday, 25th Apr 2024) from $138.97 to $137.76. During the last trading day the stock fluctuated 2.43% from a day low at $136.06 to a day high of $139.37. The price has fallen in 6 of the last 10 days but is still up by 1.35% over the past 2 weeks. 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 -150 thousand shares and in total, 700 thousand shares were bought and sold for approximately $96.42 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Neurocrine Biosciences stock with a 90% probability to be traded between $129.71 and $143.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NBIX Signals & Forecast
There are mixed signals in the stock today. The Neurocrine Biosciences 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 $137.93. On a fall, the stock will find some support from the short-term average at $135.46. 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 Tuesday, April 23, 2024, and so far it has fallen -1.66%. 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 Neurocrine Biosciences stock
Neurocrine Biosciences finds support from accumulated volume at $136.29 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 $3.31 (2.43%) between high and low. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NBIX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Neurocrine Biosciences to open at $137.73, and during the day (based on 14 day Average True Range), to move between $133.51 and $142.01, which gives a possible trading interval of +/-$4.25 (+/-3.09%) up or down from last closing price. If Neurocrine Biosciences takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $139.10 (0.97%) than the support at $136.29 (1.07%), 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.
Earnings coming up
Neurocrine Biosciences will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.04. We will update the financials statements for Neurocrine Biosciences, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.33% in the first trading day after earnings release.
Is Neurocrine Biosciences stock A Buy?
Neurocrine Biosciences 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.902 Sell Candidate Downgraded
Predicted Opening Price for Neurocrine Biosciences of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $137.73 ( 0.0218%) | $137.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NBIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 141.04 | 2.38 % | |
| R2 | 139.78 | 1.46 % | ||
| R1 | 138.99 | 0.90 % | ||
| Current price: | 137.76 | |||
| Support | S1 | 136.47 | -0.94 % | |
| S2 | 135.68 | -1.51 % | ||
| S3 | 134.42 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 143.74 | 4.34 % | |
| R2 | 140.09 | 1.69 % | ||
| R1 | 139.10 | 0.97 % | ||
| Current price | 137.76 | |||
| Support | S1 | 136.29 | -1.07% | |
| S2 | 133.84 | -2.85% | ||
| S3 | 130.40 | -5.34% |
FAQ
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