Fri 19'th Oct 2018
Biostar Pharmaceuticals Stock Analysis
Technical stock analysis for Fri 19'th Oct 2018
|Shorts||3.00% ( 2018-08-31 )|
Biostar Pharmaceuticals fell by -1.90% in the last day from $1.05 to $1.03 The price has fallen in 5 of the last 10 days and is down by -14.17% for this period. Volume has increased in the last day by 2 017 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, 9 486 shares bought and sold for approximately $9 770.58.
Biostar Pharmaceuticals lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -29.16% during the next 3 months and, with 90% probability hold a price between $0.45 and $1.26 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday October 16, 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. Biostar Pharmaceuticals holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $1.11 and $1.65. A break-up above any of these levels will issue buy signals. Biostar Pharmaceuticals 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-off's". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 25 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Biostar Pharmaceuticals finds support from accumulated volume at $1.01.
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 $0.23 between high and low, or 23.00%. For the last week, the stock has had a daily average volatility of 13.30%.
Biostar Pharmaceuticals is oversold on RSI14 (25). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Biostar Pharmaceuticals holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
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