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Fri 23'rd Feb 2018

PERIOD 2017-11-24 - 2018-02-23
CHANGE -7.80%
PRICE $1.30
VOLUME
Buy
TREND
Sell

MV LONG
Sell

MV SHORT
Sell

PIVOT
Sell

MACD
Sell

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Avinger Stock Analysis

Technical stock analysis for Fri 23'rd Feb 2018

Shorts 1.65% ( 2018-01-31 )
Cash 83.3 mill
Loans 84.6 mill
Beta 0.87
ROA -123.85
Sell candidate since 2018-01-19 Loss -84.15%

Avinger fell by -7.80% in the last day from $1.41 to $1.30 and has now fallen 4 days in a row. The price has fallen in 8 of the last 10 days and is down by -66.75% for this period. Volume has increased in the last day by 76 372 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, 352 829 shares bought and sold for approximately $458 678.

Access today's Top 5 Strong Sell Candidates

Trend

Avinger lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $0.82 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -58.99% during the next 3 months and, with 90% probability hold a price between $0.34 and $2.21 at the end of this period.

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Signals

There are few to none technical positive signals at the moment. Avinger 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 $1.44 and $5.73. 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 20, 2018, which indicates further falls until a new bottom pivot has been found. Avinger 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".

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Relative Strength Index (RSI)

RSI14 is 12 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.

Access full RSI 14 and RSI 21 lists

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance just above today's level from accumulated volume at $1.33, $1.50 and $1.57.

The stock is about to test the resistance from accumulated volume at $1.33 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Price: $1.30 Resistance: $1.33

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 $0.19 between high and low, or 15.20%. For the last week, the stock has had a daily average volatility of 15.94%.

Avinger is overbought on RSI14 (12). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

Evaluation

Avinger 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.

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