Avinger Stock Analysis
Technical stock analysis for Tue 11'th Dec 2018
Avinger fell by -0.74% in the last day from $0.34 to $0.34 and has now fallen 4 days in a row. The price has fallen in 5 of the last 10 days , but is still up by 13.79% over the past 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 -0.43 million shares and in total 1.26 million shares bought and sold for approximately $423 680.00.
Avinger has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $0.30, a level that may pose a second chance to hit a runner. According to fan-theory $0.97 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Some negative signals were issued as well, and these may have some influence on the near short-term development. Avinger holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.39. On a fall, the stock will find some support from the short-term average at $0.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Thursday December 06, 2018, 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)
RSI14 is 64 and the stock is currently not being overbought or oversold
Support & Resistance
Avinger finds support from accumulated volume at $0.34.
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 $0.04 between high and low, or 10.77%. For the last week the stock has had a daily average volatility of 13.31%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Avinger holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
|AVGR $0.34 $-0.00(-0.74%)|
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