Viking Therapeutics, Inc. ("Viking") (NASDAQ: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced that the company will release financial results for the fourth quarter and year-end 2022, after the market close on Wednesday, February 8, 2023.
On Tuesday, 7th Feb 2023, Viking Therapeutics stock price gained 4.18%, rising from $9.56 to $9.96. This marks the third consecutive day of gains for the stock. During the day, the stock fluctuated 6.28%, from a low of $9.37 to a high of $9.96. Over the past two weeks, the stock has risen 15.55%, and has gained in 6 of the last 10 days. On Tuesday, the trading volume increased, with 2 million shares traded for a total of $18.25 million, which is a positive technical sign.
VKTX Signals & Forecast
Mostly positive signals in the chart today. The Viking Therapeutics 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 $9.11 and $8.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 05, 2023, and so far it has risen 23.27%. 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 Viking Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.45 and $8.09. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Viking Therapeutics finds support just below today's level at $8.45. If this is broken, then the next support from accumulated volume will be at $8.09 and $7.89.
$8.45 $9.96
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 $0.589 between high and low, or 6.28%. For the last week, the stock has had daily average volatility of 6.63%.
Our recommended stop-loss: $9.48 (-4.81%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (VKTX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Viking Therapeutics to open at $9.76, and during the day (based on 14 day Average True Range), to move between $9.42 and $10.50, which gives a possible trading interval of +/-$0.537 (+/-5.39%) up or down from last closing price. If Viking Therapeutics takes out the full calculated possible swing range there will be an estimated 10.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.51 (15.16%) our system find the risk reward attractive.
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