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Big movements in Senseonics Holdings Inc stock price on Friday moving 26.98% between high and low

StockInvest.us, 4 months ago

Senseonics Holdings Inc

The Senseonics Holdings Inc stock price gained 41.95% on the last trading day (Friday, 4th Jun 2021), rising from $2.05 to $2.91. During the day the stock fluctuated 26.98% from a day low at $2.52 to a day high of $3.20. The price has fallen in 6 of the last 10 days, but is still up by 38.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 204 million more shares were traded than the day before. In total, 218 million shares were bought and sold for approximately $635.29 million.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $2.25, a level that may pose a second chance to hit a runner. According to fan-theory $3.31 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Senseonics Holdings Inc

The Senseonics Holdings Inc 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 $2.18 and $2.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 70.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Senseonics Holdings Inc finds support from accumulated volume at $2.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.68 between high and low, or 26.98%. For the last week, the stock has had a daily average volatility of 10.93%.

The Senseonics Holdings Inc stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Senseonics Holdings Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full Senseonics Holdings Inc forecast and analysis here.