ABAX - ABAXIS Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Sell candidate since 2017-01-23
ABAXIS Stock Analysis
ABAXIS fell by -0.85% in the last day, from USD 48.26 to USD 47.85. , and has now fallen 3 day in a row The price has fallen in 7 of the last 10 days and is down by -13.03% for this period. Volume increased in the last day by 28 735 shares, but on falling prices. This is may be an early warning and risk is increased slightly for the next couple of days. In total, 165 330 shares bought and sold for approximately USD 7.91 million.
ABAXIS lies in the lower part of a wide and weak 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 47.75 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 3.9% during the next 3 months and, with 90% probability hold a price between USD 49.62 and USD 58.15 at the end of this period.
There are few to none technical positive signals at the moment. ABAXIS holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 USD 48.40 and USD 51.71. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday January 09, 2017, which indicates further falls 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.
Relative Strength Index (RSI)
RSI14 is 30 and the stock is currently not being overbought or oversold
Support & Resistance
ABAXIS finds support from accumulated volume at USD 47.13, USD 47.04, and USD 46.40. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 48.48, USD 48.59 and USD 50.22.
The stock is about to test the resistance from accumulated volume at USD 48.48 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 0.96 between high and low, or 2.03%. For the last week, the stock has had a daily average volatility of 2.19%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
The stockstock holds several negative signals and despite the positive trend we believe ABAXIS to perform weak in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.