Ultragenyx Pharmaceutical Inc. Stock Forecast
Green day on Wednesday for Ultragenyx Pharmaceutical Inc.
(Updated on Apr 17, 2024)
The Ultragenyx Pharmaceutical Inc. stock price gained 4.25% on the last trading day (Wednesday, 17th Apr 2024), rising from $42.31 to $44.11. During the last trading day the stock fluctuated 5.63% from a day low at $42.25 to a day high of $44.63. The price has fallen in 5 of the last 10 days and is down by -6.31% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 890 thousand shares were bought and sold for approximately $39.25 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.35 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.33% during the next 3 months and, with a 90% probability hold a price between $44.61 and $58.07 at the end of this 3-month period.
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RARE Signals & Forecast
There are mixed signals in the stock today. The Ultragenyx Pharmaceutical Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $47.02 and $48.26. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.25%. 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 Ultragenyx Pharmaceutical Inc. stock
Ultragenyx Pharmaceutical Inc. finds support from accumulated volume at $43.16 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 $2.38 between high and low, or 5.63%. For the last week, the stock has had daily average volatility of 5.76%.
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 Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Ultragenyx Pharmaceutical Inc. to open at $43.66, and during the day (based on 14 day Average True Range), to move between $41.87 and $46.35, which gives a possible trading interval of +/-$2.24 (+/-5.07%) up or down from last closing price. If Ultragenyx Pharmaceutical Inc. takes out the full calculated possible swing range there will be an estimated 10.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.60 (1.11%) than the support at $43.16 (2.15%), 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 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: -2.070 Sell Candidate Unchanged
Predicted Opening Price for Ultragenyx Pharmaceutical Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $43.66 ( 1.01%) | $44.11 |
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 | 46.04 | 4.38 % | |
| R2 | 45.13 | 2.32 % | ||
| R1 | 44.57 | 1.05 % | ||
| Current price: | 44.11 | |||
| Support | S1 | 42.75 | -3.07 % | |
| S2 | 42.19 | -4.35 % | ||
| S3 | 41.28 | -6.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.37 | 7.39 % | |
| R2 | 47.00 | 6.55 % | ||
| R1 | 44.60 | 1.11 % | ||
| Current price | 44.11 | |||
| Support | S1 | 43.16 | -2.15% | |
| S2 | 42.87 | -2.81% | ||
| S3 | 42.31 | -4.08% |
FAQ
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