Viking Therapeutics Stock Forecast
Big movements in Viking Therapeutics stock price on Thursday moving 10.57% between high and low
(Updated on Apr 25, 2024)
The Viking Therapeutics stock price gained 5.82% on the last trading day (Thursday, 25th Apr 2024), rising from $65.07 to $68.86. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.57% from a day low at $62.56 to a day high of $69.17. The price has been going up and down for this period, and there has been a -2.84% loss 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, 966 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $239.30 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $65.92 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 69.42% during the next 3 months and, with a 90% probability hold a price between $111.68 and $217.64 at the end of this 3-month period.
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VKTX Signals & Forecast
There are mixed signals in the stock today. The Viking Therapeutics 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 $70.53. On a fall, the stock will find some support from the short-term average at $65.32. 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 Wednesday, February 28, 2024, and so far it has fallen -27.13%. 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 Viking Therapeutics stock
Viking Therapeutics finds support from accumulated volume at $67.10 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 $6.61 between high and low, or 10.57%. For the last week, the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VKTX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Viking Therapeutics to open at $66.86, and during the day (based on 14 day Average True Range), to move between $64.03 and $73.69, which gives a possible trading interval of +/-$4.83 (+/-7.02%) up or down from last closing price. If Viking Therapeutics takes out the full calculated possible swing range there will be an estimated 14.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $67.10 (2.56%) than the resistance at $77.05 (11.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Viking Therapeutics stock A Buy?
Viking Therapeutics 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: -2.017 Sell Candidate Unchanged
Predicted Opening Price for Viking Therapeutics of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $66.86 ( 2.90%) | $68.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VKTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.47 | 6.70 % | |
| R2 | 70.95 | 3.03 % | ||
| R1 | 69.39 | 0.767 % | ||
| Current price: | 68.86 | |||
| Support | S1 | 64.34 | -6.57 % | |
| S2 | 62.78 | -8.83 % | ||
| S3 | 60.25 | -12.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.05 | 23.51 % | |
| R2 | 80.83 | 17.38 % | ||
| R1 | 77.05 | 11.89 % | ||
| Current price | 68.86 | |||
| Support | S1 | 67.10 | -2.56% | |
| S2 | 63.44 | -7.87% | ||
| S3 | 62.56 | -9.15% |
FAQ
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