Ultragenyx Pharmaceutical Inc. Stock Forecast
Ultragenyx Pharmaceutical Inc. stock price down 0.97% on Thursday
(Updated on Apr 25, 2024)
The Ultragenyx Pharmaceutical Inc. stock price fell by -0.97% on the last day (Thursday, 25th Apr 2024) from $44.28 to $43.85. During the last trading day the stock fluctuated 2.96% from a day low at $42.73 to a day high of $44.00. The price has fallen in 7 of the last 10 days and is down by -13.51% 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 -209 thousand shares and in total, 460 thousand shares were bought and sold for approximately $20.16 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $42.21 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ultragenyx Pharmaceutical Inc. stock with a 90% probability to be traded between $41.55 and $52.34 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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RARE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.64%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ultragenyx Pharmaceutical Inc. 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 $46.79. On a fall, the stock will find some support from the short-term average at $43.83. 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. 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 Ultragenyx Pharmaceutical Inc. stock
Ultragenyx Pharmaceutical Inc. finds support from accumulated volume at $43.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.27 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 4.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RARE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ultragenyx Pharmaceutical Inc. to open at $43.53, and during the day (based on 14 day Average True Range), to move between $41.69 and $46.01, which gives a possible trading interval of +/-$2.16 (+/-4.93%) up or down from last closing price. If Ultragenyx Pharmaceutical Inc. takes out the full calculated possible swing range there will be an estimated 9.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $43.38 (1.07%) than the resistance at $46.59 (6.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ultragenyx Pharmaceutical Inc. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.72. We will update the financials statements for Ultragenyx Pharmaceutical Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.24% in the first trading day after earnings release.
Is Ultragenyx Pharmaceutical Inc. stock A Buy?
Ultragenyx Pharmaceutical Inc. 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: -1.912 Sell Candidate Unchanged
Predicted Opening Price for Ultragenyx Pharmaceutical Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $43.53 ( 0.741%) | $43.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RARE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.79 | 2.14 % | |
| R2 | 44.31 | 1.04 % | ||
| R1 | 44.01 | 0.361 % | ||
| Current price: | 43.85 | |||
| Support | S1 | 43.04 | -1.84 % | |
| S2 | 42.74 | -2.52 % | ||
| S3 | 42.26 | -3.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.37 | 8.03 % | |
| R2 | 47.00 | 7.18 % | ||
| R1 | 46.59 | 6.25 % | ||
| Current price | 43.85 | |||
| Support | S1 | 43.38 | -1.07% | |
| S2 | 42.87 | -2.23% | ||
| S3 | 42.31 | -3.51% |
FAQ
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