USA A1 Trading Advice (B) | 16-Oct-2024 | Expected Gain 6%-8%

 BUY   Corcept Therapeutics (NASDAQ: CORT)

Corcept Therapeutics (NASDAQ: CORT) STOCK RECOMMENDATION

Idea BUY
Buy Range 45.5 – 46.5
Target 49.5 – 50
StopLoss* below 43.75
Duration 12-14 Trading Days
Potential Returns 6% – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 45.5 – 46.5 49.5 – 50 below 43.75 12-14 Trading Days 6% – 8%

* Once the first target hit, reset the StopLoss at your buying price.

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Corcept Therapeutics (NASDAQ: CORT) STOCK OVERVIEW

Corcept Therapeutics is a biopharmaceutical company dedicated to developing innovative treatments for severe endocrine, oncologic, and metabolic disorders. Their lead product, Korlym, is approved for Cushing’s syndrome, a rare endocrine condition. Corcept is also advancing several pipeline candidates, including relacorilant for Cushing’s syndrome, treatments for various cancers, and potential therapies for neurological conditions like amyotrophic lateral sclerosis and nonalcoholic steatohepatitis. Founded in 1998, Corcept is based in Menlo Park, California.

Stock Data
NASDAQ Symbol CORT
Sectoral Index Biotechnology
52 Weeks High 47.71
52 Weeks Low 20.84

Corcept Therapeutics (NASDAQ: CORT) - RELATIVE STRENGTH

CORT-RELATIVE STRENGTH

Relative Performance - Last 1 Year

CORT —     NASDAQ —

Corcept Therapeutics (NASDAQ: CORT) - DAILY TECHNICAL ANALYSIS

CORT-DAILY TECHNICAL ANALYSIS
Corcept Therapeutics (NASDAQ: CORT) - Technical Analysis (Daily)
  • After an extended period of consolidation, the stock price has formed an Inverted Head & Shoulders pattern.
  • After breaking out, the stock has settled above the breakout level and then jumped higher.
  • A bullish Pole & Flag pattern is now visible on the chart, and with the recent breakout, the stock price is aiming for new highs.

Corcept Therapeutics (NASDAQ: CORT) - RSI

CORT-RSI
Corcept Therapeutics (NASDAQ: CORT) - RSI
  • Current RSI of this stock is 69.31, which indicates the strength of buyers.

Corcept Therapeutics (NASDAQ: CORT) - ADX & DI

CORT-ADX & DI
Corcept Therapeutics (NASDAQ: CORT) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

Corcept Therapeutics (NASDAQ: CORT) - EMA Cross

Corcept Therapeutics (NASDAQ: CORT) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

CONCLUSION - Corcept Therapeutics (NASDAQ: CORT) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Corcept Therapeutics stock price target will be USD 49.5 – USD 50 in the next 12-14 trading sessions.

Corcept Therapeutics (NASDAQ: CORT) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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