ArQule Forecast and Stock Analysis
Technical ARQL stock analysis for February 14, 2019.
ArQule fell by -3.01% in the last day from $3.32 to $3.22 and has now fallen 3 days in a row. The price has fallen in 7 of the last 10 days and is down by -12.97% for this period. Volume has increased in the last day by 170 801 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, 540 094 shares bought and sold for approximately $1.74 million.
Close price at the end of the last trading day (Thursday, 14th Feb 2019) of the ARQL stock was $3.22. This is 3.01% less than the trading day before Wednesday, 13th Feb 2019.
During day the stock fluctuated 4.46% from a day low at $3.21 to a day high of $3.35.
30 day high of the ARQL stock price was $4.14 and low was $3.21.
90 day high was $4.14 and low was $2.23.
52 week high for the ArQule - $7.21 and low - $1.56.
Given the current horizontal trend you can expect ArQule with 90% probability to be traded between $2.18 and $3.88 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.
There are few to none technical positive signals at the moment. ArQule holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $3.38 and $3.38. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday February 12, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 35 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 $2.80 and $2.52.
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, ArQule finds support just below today's level at $2.80. If this is broken, then the next support from accumulated volume will be at $2.52 and $2.42.
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 $0.14 between high and low, or 4.46%. For the last week, the stock has had a daily average volatility of 4.37%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
ArQule 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Strong Sell Candidate.