Social Sentiment for AKRX
Bullish vs. Bearish opinions
Weighted Sentiment 0.11
Akorn Forecast and Stock Analysis
Technical AKRX stock analysis for Thursday May 23, 2019.
|Price to book||USD 1.47|
|Next Earnings Date||2019-08-05|
Akorn fell by -0.23% in the last day ( Thursday, 23rd May 2019 ) from $4.28 to $4.27 and has now fallen 3 days in a row. During day the stock fluctuated 4.31% from a day low at $4.18 to a day high of $4.36. The price has fallen in 6 of the last 10 days and is down by -4.47% for this period. Volume has increased in the last day by 0.02 million 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, 1.32 million shares bought and sold for approximately $5.63 million.
- 30 day high of the AKRX stock price was $4.84 and low was $2.64.
- 90 day high was $4.84 and low was $2.64.
- 52 week high for the Akorn - $19.65 and low - $2.64.
Akorn is the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $4.62 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Akorn with 90% probability to be traded between $2.78 and $4.70 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.
Akorn 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 $4.27. On a fall, the stock will find some support from the long-term average at approximately $3.49. 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. A buy signal was issued from a pivot bottom point on Monday May 13, 2019, 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 73 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $3.74 and $3.55.
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, Akorn finds support just below today's level at $3.74. If this is broken, then the next support from accumulated volume will be at $3.55 and $3.51.
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 $0.18 between high and low, or 4.31%. For the last week, the stock has had a daily average volatility of 6.65%.
The stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that 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: $4.02 (-5.79%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 73 and this increases the risk substantially. There is a buy signal from pivot bottom found 8 days ago.)
6.65 %Average volatility
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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.
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|AKRX $4.27 ($-0.01 -0.23%)|
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