APRI Forecast and Technical Stock Analysis
Hold candidate since 2019-12-09 PDF
Apricus Biosciences gained 30.84% in the last trading day ( Monday, 9th Dec 2019 ), rising from $1.07 to $1.40 , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 34.26% from a day low at $1.08 to a day high of $1.45. The price has risen in 7 of the last 10 days and is up by 66.61% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1.39 million more shares were traded than the day before. In total, 2.55 million shares bought and sold for approximately $3.57 million.
- 30 day high of the APRI stock price was $1.45 and low was $0.72.
- 90 day high was $1.45 and low was $0.72.
- 52 week high for Apricus Biosciences - $7.49 and low - $0.18.
Apricus Biosciences 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 $1.06, a level that may pose a second chance to hit a runner. According to fan-theory $1.47 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Apricus Biosciences 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 $1.00 and $0.89. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday December 03, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 86 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.31 and $1.22.
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, Apricus Biosciences finds support just below today's level at $1.31. If this is broken, then the next support from accumulated volume will be at $1.22 and $1.07.
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 $0.37 between high and low, or 34.26%. For the last week, the stock has had a daily average volatility of 17.09%.
The stock is extremely overbought on RSI14 (86). Normally this may 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 stop-loss: $1.34 (-4.30%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from pivot bottom found 4 days ago.)
17.09 %Average volatility
Very Low Low Medium High Very High
Apricus Biosciences holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate candidate.
|APRI $1.40 ($0.33 30.84%)|
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