Trend

Abraxas Petroleum Corporation lies the upper part of a very wide and falling 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 $1.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -35.34% during the next 3 months and, with 90% probability hold a price between $0.46 and $0.93 at the end of this period.

Click here for today's Top 5 Trending Companies

Signals

There are mixed signals in the stock today. Abraxas Petroleum Corporation holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $1.36 and $1.36. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Monday January 14, 2019, which indicates further gains until a new top pivot has been found.

Access today's Top 5 Golden Star Companies

Relative Strength Index (RSI)

The stock holds a RSI14 at 73 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.

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $1.21 and $1.12.

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 $1.21. If this is broken, then the next support from accumulated volume will be at $1.12 and $1.09.

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 $0.07 between high and low, or 5.32%. For the last week the stock has had a daily average volatility of 5.89%.

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: $1.25 (-7.01%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 73 and this increases the risk substantially. There is a buy signal from pivot bottom found 4 days ago.)

Overall risk:

Very Low Low Medium High Very High