Weaker Buy Today ANIK ranks #418 as BUY CANDIDATE #418 Stronger Buy

ANIK stock forecast Anika Therapeutics Inc.

ANIK stock forecast

Monday October 14, 2019 Change -0.26% Price $56.96
Your prediction: Prediction: Request
VOLUME
Sell
TREND
Buy
MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Buy

ANIK Forecast and Technical Stock Analysis


Buy candidate since 2019-10-03 Gain 1.61% PDF

Anika Therapeutics Inc. fell by -0.26% in the last day ( Monday, 14th Oct 2019 ) from $57.11 to $56.96 During the day the stock fluctuated 2.10% from a day low at $56.18 to a day high of $57.36. The price has fallen in 6 of the last 10 days , but is still up by 3.77% over the past 2 weeks. 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 -42 083 shares and in total 115 544 shares bought and sold for approximately $6.58 million.

Quick summary:

  • 30 day high of the ANIK stock price was $59.76 and low was $51.02.
  • 90 day high was $59.76 and low was $39.70.
  • 52 week high for Anika Therapeutics Inc. - $59.76 and low - $29.01.
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Trend

Anika Therapeutics Inc. lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.79% during the next 3 months and, with 90% probability hold a price between $64.63 and $75.60 at the end of this period.

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Signals

Anika Therapeutics Inc. 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 $56.67 and $55.44. 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 Friday October 11, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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A sell signal from a double top formation was found on Friday October 11, 2019 and based on theory for this formation the price should fall by -2.62% to $54.45 within 5 trading days since signal was issued (Friday October 18, 2019).

Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 71 and the stock is currently not being overbought or oversold

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

Support & Resistance

Anika Therapeutics Inc. finds support from accumulated volume at $55.85.

Support: $55.85 Price: $56.96 Resistance: $56.99

Risk

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.18 (2.10%) between high and low. For the last week, the stock has had daily average volatility of 3.10%.

Our recommended stop-loss: $54.66 (-4.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 day(s) ago.)

3.10 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Downgraded

Evaluation

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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.

Weaker Buy Today ANIK ranks #418 as BUY CANDIDATE #418 Stronger Buy
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