ARCA biopharma Forecast and Stock Analysis
Technical ABIO stock analysis for April 24, 2019.
ARCA biopharma gained 0.89% in the last trading day, rising from $5.64 to $5.69 The price has fallen in 6 of the last 10 days and is down by -1.04% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 20 922 more shares were traded than the day before. In total, 47 765 shares bought and sold for approximately $271 783.00.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the ABIO stock was $5.69. This is 0.89% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 7.37% from a day low at $5.59 to a day high of $6.00.
30 day high of the ABIO stock price was $6.87 and low was $0.29.
90 day high was $6.87 and low was $0.29.
52 week high for the ARCA biopharma - $6.87 and low - $0.26.
ARCA biopharma lies in the upper part of a very wide and strong 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 $6.55 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 515.03% during the next 3 months and, with 90% probability hold a price between $9.79 and $40.28 at the end of this period.
ARCA biopharma holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $5.77. On a fall, the stock will find some support from the long-term average at approximately $2.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. ARCA biopharma has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Tuesday April 16, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSI14 is 85 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
Support & Resistance
ARCA biopharma finds support from accumulated volume at $5.64.
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 $0.41 between high and low, or 7.37%. For the last week, the stock has had a daily average volatility of 4.68%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $5.39 (-5.30%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from pivot top found 5 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term.
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|ABIO $5.69 ($0.05 0.89%)|
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