Adamis Pharmaceuticals Corporation Stock Analysis
Technical stock analysis for 18 January 2019
No changes to the price of Adamis Pharmaceuticals Corporation in the last trading day. The price has risen in 6 of the last 10 days and is up by 17.55% over the past 2 weeks.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the ADMP stock was $2.88.
During day the stock fluctuated 4.91% from a day low at $2.81 to a day high of $2.95.
30 day high of the ADMP stock price was $2.95 and low was $2.01.
90 day high was $3.15 and low was $2.01.
52 week high for the Adamis Pharmaceuticals Corporation - $5.10 and low - $2.01.
Adamis Pharmaceuticals Corporation has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $2.87, a level that may pose a second chance to hit a runner. According to fan-theory $3.73 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Adamis Pharmaceuticals Corporation 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 $2.63 and $2.58. 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 Thursday January 17, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Relative Strength Index (RSI)
RSI14 is 86 and the stock is currently not being overbought or oversold
Support & Resistance
Adamis Pharmaceuticals Corporation finds support from accumulated volume at $2.78.
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 $0.14 between high and low, or 4.91%. For the last week the stock has had a daily average volatility of 5.51%.
The stock is extremely overbought on RSI14 (86). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $2.76 (-4.18%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
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Adamis Pharmaceuticals Corporation 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.
|ADMP $2.88 $0.00(0.00%)|
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