Avita Medical Ltd (ADR) Forecast and Stock Analysis
Technical AVMXY stock analysis for Friday May 24, 2019.
Avita Medical Ltd (ADR) gained 0.68% in the last trading day ( Friday, 24th May 2019 ), rising from $6.57 to $6.62 During day the stock fluctuated 4.53% from a day low at $6.51 to a day high of $6.80. The price has risen in 7 of the last 10 days and is up by 15.04% over the past 2 weeks. Volume fell in the last day by -58 107 shares, and in total, 65 067 shares bought and sold for approximately $430 418.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the AVMXY stock price was $7.17 and low was $4.75.
- 90 day high was $7.67 and low was $1.87.
- 52 week high for the Avita Medical Ltd (ADR) - $7.67 and low - $0.80.
Avita Medical Ltd (ADR) lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $6.16 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 102.78% during the next 3 months and, with 90% probability hold a price between $12.49 and $20.29 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday May 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Avita Medical Ltd (ADR) 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 $6.64. On a fall, the stock will find some support from the long-term average at approximately $5.79. 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.
Relative Strength Index (RSI)
The stock holds a RSI14 at 72 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
Avita Medical Ltd (ADR) finds support from accumulated volume at $6.55.
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 $0.30 between high and low, or 4.53%. For the last week the stock has had a daily average volatility of 4.28%.
Our recommended stoploss: $6.26 (-5.33%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 72 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
4.28 %Average volatility
Very Low Low Medium High Very High
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.
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|AVMXY $6.62 ($0.04 0.68%)|
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