Bullish vs. Bearish (2 opinions)
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ADMP Forecast and Technical Stock Analysis
Sell candidate since 2019-12-13 PDF
Adamis Pharmaceuticals Corporation fell by -1.14% in the last day ( Friday, 13th Dec 2019 ) from $0.52 to $0.51 and has now fallen 6 days in a row. During the day the stock fluctuated 3.94% from a day low at $0.51 to a day high of $0.53. The price has fallen in 8 of the last 10 days and is down by -12.46% for this period. 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 -97 417 shares and in total 479 494 shares bought and sold for approximately $244 590.00.
- 30 day high of the ADMP stock price was $1.44 and low was $0.50.
- 90 day high was $1.44 and low was $0.48.
- 52 week high for Adamis Pharmaceuticals Corporation - $3.29 and low - $0.48.
Adamis Pharmaceuticals Corporation is at the lower part of a very wide and horizontal trend on short term, and normally this may pose a good buying opportunity, though a break down through the bottom trend line at $0.51 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend, you can expect Adamis Pharmaceuticals Corporation with a 90% probability to be traded between $0.50 and $1.25 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.
There are few to none technical positive signals at the moment. Adamis Pharmaceuticals Corporation 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 $0.53 and $0.76. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday November 22, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 6 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.02 between high and low, or 3.94%. For the last week the stock has had a daily average volatility of 5.52%.
Adamis Pharmaceuticals Corporation is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a sell evaluation for this stock. No stop-loss set.
5.52 %Average volatility
Very Low Low Medium High Very High
Adamis Pharmaceuticals Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate candidate.
|ADMP $0.51 ($-0.01 -1.14%)|
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