Anavex Life Sciences Corp. Forecast and Stock Analysis
Technical AVXL stock analysis for February 21, 2019.
Anavex Life Sciences Corp. gained 0.42% in the last trading day, rising from $2.37 to $2.38 The price has risen in 7 of the last 10 days and is up by 14.42% over the past 2 weeks. Volume fell in the last day by -134 592 shares, and in total, 53 285 shares bought and sold for approximately $126 818.00. 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.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the AVXL stock was $2.38. This is 0.42% more than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 4.30% from a day low at $2.30 to a day high of $2.40.
30 day high of the AVXL stock price was $2.68 and low was $1.71.
90 day high was $2.68 and low was $1.25.
52 week high for the Anavex Life Sciences Corp. - $4.35 and low - $1.25.
Anavex Life Sciences Corp. lies in the upper part of a very wide and weak rising 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 $2.60 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 6.63% during the next 3 months and, with 90% probability hold a price between $1.44 and $2.77 at the end of this period.
Anavex Life Sciences Corp. 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 $2.47. On a fall, the stock will find some support from the long-term average at approximately $2.04. 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. A buy signal was issued from a pivot bottom point on Wednesday February 20, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 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
Anavex Life Sciences Corp. finds support from accumulated volume at $2.35.
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 $0.10 between high and low, or 4.30%. For the last week the stock has had a daily average volatility of 6.59%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $2.22 (-6.54%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 71 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
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. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.