Friday December 13, 2019 Change 7.90% Price $0.27
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VOLUME
Buy
TREND
Sell
MV LONG
Sell

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

AXAS Forecast and Technical Stock Analysis


Buy candidate since 2019-12-13 PDF

Abraxas Petroleum Corporation gained 7.90% in the last trading day ( Friday, 13th Dec 2019 ), rising from $0.25 to $0.27 During the day the stock fluctuated 11.03% from a day low at $0.25 to a day high of $0.28. The price has fallen in 7 of the last 10 days , but is still up by 4.12% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1.09 million more shares were traded than the day before. In total, 2.64 million shares bought and sold for approximately $707 523.00.

Quick summary:

  • 30 day high of the AXAS stock price was $0.36 and low was $0.22.
  • 90 day high was $0.68 and low was $0.22.
  • 52 week high for Abraxas Petroleum Corporation - $1.55 and low - $0.22.
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Trend

Abraxas Petroleum Corporation lies the upper part of a very wide and falling trend in the short term, and this may 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 $0.29 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 -54.34% during the next 3 months and, with 90% probability hold a price between $0.05 and $0.13 at the end of this period.

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Signals

A buy signal was issued from a pivot bottom point on Thursday December 12, 2019, which indicates further gains until a new top pivot has been found. Abraxas Petroleum Corporation has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Abraxas Petroleum Corporation holds a buy signal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.28. On a fall, the stock will find some support from the short-term average at $0.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.

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Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 60 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 $0.25 and $0.25.

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 $0.25. If this is broken, then the next support from accumulated volume will be at $0.25 and $0.24.

Support: $0.25 Price: $0.27 Resistance: $0.27

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 $0.03 between high and low, or 11.03%. For the last week, the stock has had a daily average volatility of 7.36%.

Our recommended stop-loss: $0.26 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)

7.36 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Upgraded

Evaluation

Several short-term signals are positive, despite the stock being in a falling trend, 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 analysis conclusion for this stock since last evaluation from a Sell Candidate to a Buy Candidate candidate.

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