BioShares Biotechnology Clinical Trials fund downgraded to Strong Sell Candidate
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The BioShares Biotechnology Clinical Trials fund price fell by -3.38% on the last day (Friday, 26th Nov 2021) from $42.08 to $40.66. During the day the fund fluctuated 2.21% from a day low at $40.34 to a day high of $41.23. The price has fallen in 8 of the last 10 days and is down by -10.5% for this period. Volume has increased on the last day by 945 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, 2 thousand shares were bought and sold for approximately $67.33 thousand.
The fund has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($42.04) are considered to be a "second chance" to get out. According to the fan-theory $37.43 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Signals & Forecast
There are few to no technical positive signals at the moment. The BioShares Biotechnology Clinical Trials fund 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 $42.36 and $44.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 03, 2021, and so far it has fallen -15.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). BioShares Biotechnology Clinical Trials gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the fund may perform very badly in the next couple of days.
This fund has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the fund moved $0.89 between high and low, or 2.21%. For the last week, the fund has had a daily average volatility of 1.84%.
BioShares Biotechnology Clinical Trials is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is BioShares Biotechnology Clinical Trials Fund fund A Buy?
BioShares Biotechnology Clinical Trials 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 fund. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this fund since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.059
Predicted Opening Price for BioShares Biotechnology Clinical Trials Fund of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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