AXAS Forecast and Technical Stock Analysis
Sell candidate since 2019-07-11 Loss -8.58%Abraxas Petroleum Corporation gained 3.55% in the last trading day ( Friday, 19th Jul 2019 ), rising from $0.93 to $0.96 During day the stock fluctuated 6.07% from a day low at $0.91 to a day high of $0.97. The price has fallen in 8 of the last 10 days and is down by -10.29% for this period. Volume fell in the last day by -58 143 shares, and in total, 424 813 shares bought and sold for approximately $407 778.00. 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.
Quick summary:
- 30 day high of the AXAS stock price was $1.13 and low was $0.91.
- 90 day high was $1.55 and low was $0.91.
- 52 week high for the Abraxas Petroleum Corporation - $2.93 and low - $0.90.
Trend
Abraxas Petroleum Corporation lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.90% during the next 3 months and, with 90% probability hold a price between $0.55 and $0.83 at the end of this period.
Signals
A buy signal was issued from a pivot bottom point on Thursday July 18, 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. Abraxas Petroleum Corporation 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 $0.98 and $1.04. A break-up above any of these levels will issue buy signals. 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)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 40 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
Abraxas Petroleum Corporation finds support from accumulated volume at $0.96.
Risk
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 $0.06 between high and low, or 6.07%. For the last week the stock has had a daily average volatility of 5.91%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
5.91 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation
Abraxas Petroleum Corporation 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.
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