Abeona Therapeutics Inc. Forecast and Stock Analysis
Technical ABEO stock analysis for March 19, 2019.
Abeona Therapeutics Inc. fell by -1.85% in the last day from $8.09 to $7.94 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days , but is still up by 1.4% over the past 2 weeks. Volume has increased in the last day by 4 132 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 407 100 shares bought and sold for approximately $3.23 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the ABEO stock was $7.94. This is 1.85% less than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 3.45% from a day low at $7.83 to a day high of $8.10.
30 day high of the ABEO stock price was $8.39 and low was $6.35.
90 day high was $8.39 and low was $6.26.
52 week high for the Abeona Therapeutics Inc. - $22.00 and low - $6.26.
Abeona Therapeutics Inc. lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $8.12 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 8.71% during the next 3 months and, with 90% probability hold a price between $7.15 and $8.83 at the end of this period.
Abeona Therapeutics Inc. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $7.73 and $7.10. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday March 15, 2019, 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 61 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $7.33 and $7.02.
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, Abeona Therapeutics Inc. finds support just below today's level at $7.33. If this is broken, then the next support from accumulated volume will be at $7.02 and $6.54.
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 $0.27 between high and low, or 3.45%. For the last week, the stock has had a daily average volatility of 5.49%.
Our recommended stoploss: $7.60 (-4.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 days ago.)
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Abeona Therapeutics Inc. holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. 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 Hold/Accumulate.