Aptose Biosciences Forecast and Stock Analysis
Technical APTO stock analysis for Friday June 14, 2019.
Aptose Biosciences gained 1.36% in the last trading day ( Friday, 14th Jun 2019 ), rising from $2.21 to $2.24 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During day the stock fluctuated 5.55% from a day low at $2.16 to a day high of $2.28. The price has risen in 6 of the last 10 days and is up by 12% 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, 210 954 more shares were traded than the day before. In total, 617 038 shares bought and sold for approximately $1.38 million.
Quick summary:
- 30 day high of the APTO stock price was $2.28 and low was $1.81.
- 90 day high was $2.45 and low was $1.81.
- 52 week high for the Aptose Biosciences - $4.55 and low - $1.57.
Trend
Given the current horizontal trend you can expect Aptose Biosciences with 90% probability to be traded between $1.77 and $2.35 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.
Signals
Only positive signals in the chart today. Aptose Biosciences holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $2.03 and $2.05. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday June 07, 2019, which indicates further gains until a new top pivot has been found. Aptose Biosciences has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Relative Strength Index (RSI)
RSI14 is 60 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $2.01 and $2.00.
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, Aptose Biosciences finds support just below today's level at $2.01. If this is broken, then the next support from accumulated volume will be at $2.00 and $1.85.
Risk
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 $0.12 between high and low, or 5.55%. For the last week, the stock has had a daily average volatility of 8.74%.
Since the Aptose Biosciences has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $2.14 (-4.43%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 5 days ago.)
8.74 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation:
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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