On Monday Anavex Life Sciences Corp. stock price gained impressive 5.09%
(Updated on Nov 29, 2021)
Buy candidate since 2021-11-29 PDF
The Anavex Life Sciences Corp. stock price gained 5.09% on the last trading day (Monday, 29th Nov 2021), rising from $19.45 to $20.44. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 6.77% from a day low at $19.95 to a day high of $21.30. The price has been going up and down for this period, and there has been a -8.71% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 323 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $22.83 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.99% during the next 3 months and, with a 90% probability hold a price between $20.64 and $27.32 at the end of this 3-month period.
Signals & Forecast
The Anavex Life Sciences Corp. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19.51 and $19.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, November 23, 2021, and so far it has risen 13.75%. Further rise is indicated 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $18.74 and $17.95. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Anavex Life Sciences Corp. finds support just below today's level at $18.74. If this is broken, then the next support from accumulated volume will be at $17.95 and $17.63.
This stock may move much during the 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 $1.35 between high and low, or 6.77%. For the last week, the stock has had a daily average volatility of 10.80%.
Our recommended stop-loss: $19.57 (-4.26%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Is Anavex Life Sciences Corp. stock A Buy?
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 Anavex Life Sciences Corp. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.346
Predicted Opening Price for Anavex Life Sciences Corp. of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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On Nov 25, 2021 "BTIG Research" gave "$34.00" rating for AVXL. The price target was set to $18.99+5.7%.
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