PHMD - PhotoMedex Fri 13'th Jan 2017
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-13
PhotoMedex Stock Analysis
PhotoMedex gained 16.35% in the last trading day rising from, USD 2.08 to USD 2.42. The price has risen in 5 of the last 10 days days and is up by 22.84% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and ,in total, 809 750 more shares traded than the day before. In total there were 958 433 shares were bought and sold for approximately USD 2.32 million.
PhotoMedex lays in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 2.11 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 54.0% during the next 3 months and, with 90% probability will hold a price between USD 3.25 and USD 8.52 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday January 12, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. PhotoMedex holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 2.70. On a fall, the stock will find some support from the short-term average at USD 2.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
PhotoMedex finds support from accumulated volume at USD 2.41, USD 2.30, and USD 2.16. On the upside the stock meets some resistance from accumulated volume at USD 2.55, USD 2.58 and USD 2.64.
This stock may move much during a 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 USD 0.64 between high and low, or 31.22%. For the last week, the stock has had a daily average volatility of 17.35%.
Our recommended stoploss: USD 2.34 (-3.31%) ( based on support and risk)
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Buy Candidate.