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Anika Therapeutics Inc. Stock Forecast NASDAQ:ANIK

$38.09 (-4.01%)

Volume: 105k

Closed: Dec 03, 2021

Hollow Logo Score: -4.112

Anika Therapeutics Inc. Stock Forecast

$38.09 (-4.01%)

Volume: 105k

Closed: Dec 03, 2021

Score Hollow Logo -4.112
Which way will ANIK go? Request
Key Stats
P/E Ratio -95.98
Beta 0.79
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 46 and the stock is currently not being overbought or oversold

Anika Therapeutics Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Dec 03, 2021)


Sell candidate since 2021-12-03

The Anika Therapeutics Inc. stock price fell by -4.01% on the last day (Friday, 3rd Dec 2021) from $39.68 to $38.09. During the day the stock fluctuated 3.95% from a day low at $38.09 to a day high of $39.59. The price has fallen in 7 of the last 10 days and is down by -6.09% for this period. Volume has increased on the last day by 42 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 105 thousand shares were bought and sold for approximately $3.99 million.

Given the current horizontal trend, you can expect Anika Therapeutics Inc. stock with a 90% probability to be traded between $38.06 and $44.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Anika Therapeutics Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $39.30 and $40.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 05, 2021, and so far it has fallen -15.41%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $1.51 between high and low, or 3.95%. For the last week, the stock has had a daily average volatility of 3.86%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Anika Therapeutics Inc. stock A Buy?

Anika Therapeutics Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -4.112

Predicted Opening Price for Anika Therapeutics Inc. of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$38.59 $38.09 (Undervalued)
Sell Candidate Downgraded

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Analyst Ratings

On Nov 05, 2021 "Barrington Research" gave "$44.00 - $48.00" rating for ANIK. The price target was set to $45.16+4.2%.

Volatility and Risk
Daily Average Volatility: 3.86 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.86 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $39.65
Price: $38.09
No Support Found

ANIK Insider Trading Show all Trades

INSIDER POWER

5.736

Last 100 transactions
Buy: 961 687 | Sell: 167 655 (Shares)
Date Action Amount Person Type
Oct 28, 2021 Buy 8 179 Conley Sheryl L Common Stock
Aug 12, 2021 Buy 777 Levitz Michael L Common Stock
Aug 11, 2021 Buy 2 850 Levitz Michael L Common Stock
Aug 10, 2021 Buy 3 859 Levitz Michael L Common Stock
Aug 10, 2021 Sell 3 859 Levitz Michael L Restricted Stock Unit
Show all Insider Trades
INSIDER POWER

5.736

Last 100 transactions
Buy: 961 687 | Sell: 167 655 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 40.09 5.26 %
39.52 3.75 %
39.16 2.82 %
Current price: 38.09
Support 38.01 -0.20 %
37.66 -1.13 %
37.08 -2.64 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 43.27 13.60 %
39.68 4.17 %
39.65 4.10 %
Current price 38.09
Support 0 .
0 .
0 .

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About Anika Therapeutics Inc.

Anika Therapeutics Anika Therapeutics, Inc., together with its subsidiaries, provides therapeutic pain management solutions for patients with degenerative orthopedic diseases and traumatic conditions in the United States, Canada, Europe, and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology. Its orthobiologics products comprise ORTHOVISC, ORTHOVISC mini, MONOVISC, an... Read more

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