Aquinox Pharmaceuticals Forecast and Stock Analysis
Technical AQXP stock analysis for February 21, 2019.
Aquinox Pharmaceuticals fell by -1.16% in the last day from $2.59 to $2.56 and has now fallen 4 days in a row. The price has been going up and down for this period, and there has been a 6.67% gain for the last 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 -26 216 shares and in total 42 095 shares bought and sold for approximately $107 763.00.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the AQXP stock was $2.56. This is 1.16% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 3.15% from a day low at $2.54 to a day high of $2.62.
30 day high of the AQXP stock price was $2.75 and low was $2.18.
90 day high was $2.75 and low was $2.00.
52 week high for the Aquinox Pharmaceuticals - $16.55 and low - $1.96.
Aquinox Pharmaceuticals lies in the middle of a wide and weak 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 9.39% during the next 3 months and, with 90% probability hold a price between $2.42 and $2.94 at the end of this period.
Aquinox Pharmaceuticals 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 $2.60. On a fall, the stock will find some support from the long-term average at approximately $2.41. 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. 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 February 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 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
Aquinox Pharmaceuticals finds support from accumulated volume at $2.45.
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 $0.08 between high and low, or 3.15%. For the last week the stock has had a daily average volatility of 3.62%.
Our recommended stoploss: $2.41 (-5.79%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 71 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
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Evaluation: Buy Candidate
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.