Argenx Rises 3.16% To Extend Five-Day Rally To 11.32% Gain

argenx (ARGX) concluded the most recent session at $791.59, marking a 3.16% gain and extending its winning streak to five consecutive days. This rally has resulted in a notable 11.32% advance over this short period, showcasing strong positive momentum entering the new timeframe. The intraday movement saw a low of $777.41 and a high of $793.47, with solid volume exceeding 502k shares. Below is a comprehensive technical analysis based on the provided historical data, incorporating the required frameworks.
Candlestick Theory
The recent price action for argenx reveals a series of predominantly bullish candles over the last five sessions. Each day closed significantly higher than its open, forming solid green bodies, demonstrating consistent buying pressure throughout the trading periods. These candles signify strong upward momentum. A critical resistance level is clearly evident just below $793.50, tested repeatedly near $793.47 on the latest close and earlier highs around $786.20. Support is emerging near the $777-$780 zone, tested during yesterday's low and the prior consolidation phase. A decisive close above $793.50 would signal a bullish breakout, while failure to hold $777 could trigger short-term profit-taking.
Moving Average Theory
Calculation of key moving averages places the current price ($791.59) comfortably above all major trend-defining averages. The 50-day MA (approx. $730-740), 100-day MA (approx. $660-670), and the 200-day MA (approx. $600-610) all slope upwards. Crucially, the 50-day MA crossed above the 200-day MA (a "Golden Cross") around early August 2025, confirming the establishment of a significant long-term bullish trend. The shorter-term 50-day MA also sits firmly above the 100-day MA. This stacked configuration, with price leading above all averages, provides strong confirmation of both short and long-term bullish trends for argenx. The averages now act as dynamic support layers.
MACD & KDJ Indicators
The MACD (12,26,9) is currently in positive territory above its signal line and the zero line. While the histogram shows positive momentum (green bars), the slope has begun to flatten slightly over the last few sessions as the sharp advance moderates. This suggests bullish momentum persists but is potentially entering a phase of consolidation or slower ascent. The KDJ oscillator shows the %K line fluctuating near overbought levels (approaching 80), often intertwined with the %D line. Readings consistently above 80 would signal severely overbought conditions prone to pullbacks, but current levels indicate strong momentum without extreme overextension yet. Both oscillators generally agree on the prevailing bullish momentum but hint at potential slowing near-term.
Bollinger Bands
Argenx is currently trading near the upper Bollinger Band (calculated ~$795), which acts as a magnet and resistance level during strong uptrends. The bands had been relatively tight in late September, indicating lower volatility and a coiling pattern, followed by a decisive expansion upwards as the price broke higher. This "band expansion" confirms the validity and strength of the recent surge. Price consistently hugging the upper band underscores the strength of the current uptrend. While this positioning increases the chance of minor pullbacks towards the 20-period moving average (mid-band, ~$760-770), it doesn't typically negate the primary trend direction unless a significant break below the mid-band occurs. Volatility remains elevated but supportive of the trend.
Volume-Price Relationship
Volume has been supportive of the recent advance. Trading activity noticeably picked up during the five-day rally, with the highest volume seen in the initial breakout days (Sept 30th, Oct 1st). This increasing volume on rising prices validates the strength of the move, confirming buyer conviction. The preceding consolidation phase saw lighter volume, typical of accumulation. Significant volume spikes occurred at major turning points: a large spike accompanied the low near $660 on Feb 5th, and another huge spike coincided with the sharp rise on July 31st. The current rally volume, while elevated, hasn't surpassed these historical peaks, suggesting the move, while strong, may not represent peak exhaustion yet.
Relative Strength Index (RSI)
The 14-period RSI, calculated using the standard formula averaging gains and losses over the period, is currently near 67. This places it comfortably in bullish territory, approaching the overbought threshold of 70 but not exceeding it. While readings above 70 warn of potential overbought conditions, it's crucial to note that RSI can remain elevated for extended periods during strong trending markets – a condition argenx currently exhibits. RSI readings below 30 would signal oversold conditions. The current reading suggests strong momentum but does not yet flash an immediate, severe overbought warning signal, providing room for further upside potential within the trend. The RSI trajectory generally aligns with the price ascent.
Fibonacci Retracement
Applying Fibonacci retracement to the major swing low at approximately $660 (formed around Aug 11th) and the latest high at $793.47 generates key retracement levels:
23.6% retracement: ~$760
38.2% retracement: ~$740
50.0% retracement: ~$725
61.8% retracement: ~$710
The current price sits well above the 61.8% retracement level ($710). Previous reactions near these levels provide confluence: price found support near $710 in late Sept and bounced significantly from just above $740 earlier in Sept. These Fibonacci levels now represent potential support zones should a pullback materialize, with $740-$750 acting as major support confluence (overlapping with the rising 50-day MA and psychological level). A break above the recent high ($793.47) projects potential extension targets towards $810 (127.2%) and $840 (161.8%).
Confluence and Divergence Summary
Significant confluence exists around the bullish structure: Price above all key moving averages (Golden Cross), rising volume on the advance, price near the upper Bollinger Band, supportive RSI, and position above key Fibonacci retracement levels all point towards sustained upward momentum. The primary divergence noted is within momentum oscillators: While the MACD remains positive, its histogram showed slightly waning momentum during the last two sessions of the rally, and the KDJ is hovering near overbought territory. This subtle MACD divergence suggests the five-day surge might pause or consolidate near-term, but it does not currently contradict the larger bullish structure. Support zones near $777 (intraday) and $760 (stronger: MA/psychological confluence, also near 23.6% Fib) are critical for maintaining bullish control. Resistance remains firm at $793.50. Overall, the technical posture for argenx remains robustly bullish, warranting monitoring for potential near-term consolidation after the sharp run-up but favoring continuation as long as key support levels hold.