Buy Score Rank #1497 out of #5176
Wed 26'th Jul 2017
Acasti Pharma Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Buy candidate since 2017-07-25 Gain 7.80%
Given the current horizontal trend you can expect Acasti Pharma with 90% probability to be traded between $1.26 and $1.50 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Acasti Pharma 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 $1.30 and $1.30. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday July 25, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 60 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 $1.29 and $1.28. On the upside the stock meets some resistance from accumulated volume at $1.47.
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, Acasti Pharma finds support just below today's level at $1.29. If this is broken, then the next support from accumulated volume will be at $1.28 and $1.26.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $1.33 (-3.51%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
Several short-term signals 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 period. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
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