Abraxas Petroleum Corporation fell by -1.87% in the last day ( Friday, 20th Sep 2019 ) from $0.60 to $0.59 and has now fallen 4 days in a row. During the day the stock fluctuated 9.36% from a day low at $0.56 to a day high of $0.61. The price has been going up and down for this period, and there has been a 16.71% gain for the last 2 weeks. Volume has increased in the last day by 411 950 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, 991 829 shares bought and sold for approximately $581 807.00.
Quick summary:
- 30 day high of the AXAS stock price was $0.68 and low was $0.46.
- 90 day high was $1.13 and low was $0.43.
- 52 week high for Abraxas Petroleum Corporation - $2.57 and low - $0.43.
Trend
Abraxas Petroleum Corporation 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 $0.59, a level that may pose a second chance to hit a runner. According to fan-theory $0.98 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Signals
Abraxas Petroleum Corporation holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $0.58 and $0.57. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday September 17, 2019, which indicates further falls until a new bottom pivot has been found. Abraxas Petroleum Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 62 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 behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.54 and $0.50.
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 $0.54. If this is broken, then the next support from accumulated volume will be at $0.50 and $0.47.
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 $0.05 between high and low, or 9.36%. For the last week, the stock has had a daily average volatility of 10.91%.
Our recommended stop-loss: $0.55 (-5.46%) (This stock has high daily movements and this gives high risk. There is a sell signal from pivot top found 3 day(s) ago.)
10.91 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation
Abraxas Petroleum Corporation holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level, we recommend to hold or accumulate in this position whilst awaiting further development.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!
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