Fri 23'rd Feb 2018
Biostar Pharmaceuticals Stock Analysis
Technical stock analysis for Fri 23'rd Feb 2018
|Shorts||0.07% ( 2018-01-31 )|
Biostar Pharmaceuticals lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $3.19 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 106.6% during the next 3 months and, with 90% probability hold a price between $6.60 and $10.11 at the end of this period.
Biostar Pharmaceuticals 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 $3.73. On a fall, the stock will find some support from the long-term average at approximately $3.02. 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. A buy signal was issued from a pivot bottom point on Thursday February 22, 2018, 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. 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)
RSI14 is 41 and the stock is currently not being overbought or oversold
Support & Resistance
Biostar Pharmaceuticals finds support from accumulated volume at $3.36. On the upside the stock meets some resistance from accumulated volume at $3.58, $3.60 and $4.02.
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 $0.36 between high and low, or 11.61%. For the last week the stock has had a daily average volatility of 11.01%.
Our recommended stoploss: $3.13 (-7.44%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 1 days ago.)
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