Scholar Rock Holding Corp. Stock Forecast
Big movements in Scholar Rock Holding Corp. stock price on Thursday moving 17.22% between high and low
(Updated on Mar 28, 2024)
The Scholar Rock Holding Corp. stock price gained 14.95% on the last trading day (Thursday, 28th Mar 2024), rising from $15.45 to $17.76. During the last trading day the stock fluctuated 17.22% from a day low at $15.27 to a day high of $17.90. The price has been going up and down for this period, and there has been a 20.16% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $31.08 million.
The stock has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $16.96 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $20.77 sometime during the next 3 months.
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SRRK Signals & Forecast
The Scholar Rock Holding Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.32 and $15.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 34.55%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Scholar Rock Holding Corp. stock
Scholar Rock Holding Corp. finds support from accumulated volume at $17.20 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 $2.63 between high and low, or 17.22%. For the last week, the stock has had daily average volatility of 8.81%.
Our recommended stop-loss: $17.06 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (SRRK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Scholar Rock Holding Corp. to open at $16.98, and during the day (based on 14 day Average True Range), to move between $16.45 and $19.07, which gives a possible trading interval of +/-$1.31 (+/-7.37%) up or down from last closing price. If Scholar Rock Holding Corp. takes out the full calculated possible swing range there will be an estimated 14.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.20 (3.15%) than the resistance at $18.80 (5.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Scholar Rock Holding Corp. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Scholar Rock Holding Corp. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 3.633 Buy Candidate Upgraded
Predicted Opening Price for Scholar Rock Holding Corp. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$16.98 ( 4.41%) | $17.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRRK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.61 | 10.40 % | |
R2 | 18.60 | 4.74 % | ||
R1 | 17.98 | 1.25 % | ||
Current price: | 17.76 | |||
Support | S1 | 15.97 | -10.07 % | |
S2 | 15.35 | -13.56 % | ||
S3 | 14.35 | -19.22 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 18.80 | 5.86 % | ||
Current price | 17.76 | |||
Support | S1 | 17.20 | -3.15% | |
S2 | 15.82 | -10.92% | ||
S3 | 14.45 | -18.64% |
FAQ
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