Approach Resources Inc. Forecast and Stock Analysis
Technical AREX stock analysis for Friday June 14, 2019.
Approach Resources Inc. fell by -4.64% in the last day ( Friday, 14th Jun 2019 ) from $0.23 to $0.22 and has now fallen 5 days in a row. During day the stock fluctuated 11.38% from a day low at $0.21 to a day high of $0.23. The price has fallen in 6 of the last 10 days , but is still up by 1.82% over the past 2 weeks. Volume has increased in the last day by 86 979 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, 840 138 shares bought and sold for approximately $182 898.00.
- 30 day high of the AREX stock price was $0.49 and low was $0.20.
- 90 day high was $1.10 and low was $0.20.
- 52 week high for the Approach Resources Inc. - $2.65 and low - $0.20.
Approach Resources Inc. lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -63.10% during the next 3 months and, with 90% probability hold a price between $-0.01 and $0.09 at the end of this period.
There are few to none technical positive signals at the moment. Approach Resources Inc. holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $0.23 and $0.27. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday June 10, 2019, which indicates further falls until a new bottom pivot has been found. Approach Resources Inc. gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
Relative Strength Index (RSI)
RSI14 is 44 and the stock is currently not being overbought or oversold
Support & Resistance
Approach Resources Inc. finds support from accumulated volume at $0.21.
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 $0.02 between high and low, or 11.38%. For the last week, the stock has had a daily average volatility of 12.36%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
12.36 %Average volatility
Very Low Low Medium High Very High
Approach Resources Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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|AREX $0.22 ($-0.01 -4.64%)|
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