Abraxas Petroleum Corporation Forecast and Stock Analysis
Technical AXAS stock analysis for March 22, 2019.
| Shorts | n/a |
| Cash | n/a |
| Loans | n/a |
| Beta | 1.54 |
| ROA | 16.53 |
Abraxas Petroleum Corporation fell by -6.34% in the last day from $1.42 to $1.33 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 16.67% over the past 2 weeks. Volume has increased in the last day by 0.33 million 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, 1.51 million shares bought and sold for approximately $2.01 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the AXAS stock was $1.33. This is 6.34% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 8.39% from a day low at $1.31 to a day high of $1.41.
30 day high of the AXAS stock price was $1.50 and low was $1.11.
90 day high was $1.50 and low was $0.90.
52 week high for the Abraxas Petroleum Corporation - $3.27 and low - $0.90.
Trend
Abraxas Petroleum Corporation lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.93% during the next 3 months and, with 90% probability hold a price between $1.15 and $1.57 at the end of this period.
Signals
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday March 20, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Abraxas Petroleum Corporation 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 $1.36. On a fall, the stock will find some support from the long-term average at approximately $1.24. 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.
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Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.24 and $1.19.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Abraxas Petroleum Corporation finds support just below today's level at $1.24. If this is broken, then the next support from accumulated volume will be at $1.19 and $1.12.
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 $0.11 between high and low, or 8.39%. For the last week, the stock has had a daily average volatility of 9.38%.
Our recommended stoploss: $1.26 (-5.63%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 days ago.)
Overall risk:
Very Low Low Medium High Very High
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.
