Sell Candidate
Buy Score Rank #3595 out of #5176
Wed 26'th Jul 2017

PERIOD COVERED
2017-04-27 - 2017-07-26
CHANGE
-1.04%
PRICE
$51.26
VOLUME
Sell
TREND

MV LONG
Sell

MV SHORT
Sell

PIVOT
Sell

MACD
Sell

BOLLINGER
Sell
Request Prediction
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ABAXIS Stock Analysis

Technical stock analysis for Wed 26'th Jul 2017

Sell candidate since 2017-07-25 Loss -1.04%

ABAXIS fell by -1.04% in the last day from $51.80 to $51.26 The price has been going up and down for this period, and there has been a -2.53% loss for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -7 282 shares and in total 87 342 shares bought and sold for approximately $4.48 million.

Trend

ABAXIS lies in the lower part of a strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $51.11 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 12.51% during the next 3 months and, with 90% probability hold a price between $57.50 and $62.59 at the end of this period.

Signals

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 $51.31 and $51.95. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday July 25, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

A sell signal from a double top formation was found on Tuesday July 25, 2017 and based on theory for this formation the price should fall by -0.64% to $51.15 within 3 trading days since signal was issued (Friday July 28, 2017).

Relative Strength Index (RSI)

RSI14 is 42 and the stock is currently not being overbought or oversold

Support & Resistance

ABAXIS finds support from accumulated volume at . On the upside the stock meets some resistance just above today's level from accumulated volume at $52.68, $51.37 and $52.45.

The stock is about to test the resistance from accumulated volume at $52.68 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $51.15 Price: $51.26 Resistance: $52.68
S: $51.15 Price: $51.26 R: $52.68

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.80 (1.57%) between high and low. For the last week, the stock has had a daily average volatility of 2.23%.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

The stock stock holds several negative signals and despite the positive trend we believe ABAXIS will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.

Sell Candidate

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