LIGAND PHARMACEUTICALS (LGND) Stock Technical Analysis
NASDAQ:LGND - Nasdaq - US53220K5048 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to LGND. Although LGND has been one of the better performers in the overall market, we have a mixed picture in the medium term time frame. But recently some decent action can be observed again.
LGND has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 114.36. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 112.75, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LGND in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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96.40
When analyzing the support we can see 5 important areas.
- A support zone ranging from 111.56 to 112.75. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 104.14 to 108.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @101.85 from a trend line in the daily time frame.
- A support zone ranging from 99.57 to 100.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 97.37 to 97.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 3 important resistance areas.
- Resistance @114.36 from a trend line in the daily time frame.
- Resistance @118.92 from a horizontal line in the daily time frame.
- A resistance zone ranging from 124.33 to 124.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for LGND is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for LGND is up. |
| ChartMill Relative Strength | 88.12 | POSITIVE | LGND has a high relative strength, it outperformed 88.12% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of LGND is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of LGND is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of LGND is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.44 | NEUTRAL | The RSI value for LGND is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.89 | POSITIVE | The MACD value suggests LGND has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.36 | OVERBOUGHT | The high Stochastics value suggests LGND may be overbought. |
| Average True Range in percent/ATR (20) | 2.98 | MEDIUM VOLATILITY | The ATR as a percentage value for LGND suggests some volalility. |
| Average Directional Index/ADX (14) | 26.24 | POSITIVE | The high ADX value value for LGND suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 114.37 | 111.55 | 2.82 (2.47%) | 25.00% |
| An entry @114.37. This is a Buy Stop order right above the resistance zone. | An exit @111.55. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.82 points, which is 2.47%. | For a 0.62% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of LGND. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
114.07
-0.57 (-0.5%)