Tue 18'th Sep 2018
Catabasis Pharmaceuticals Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||0.18% ( 2018-08-31 )|
Catabasis Pharmaceuticals gained 1.10% in the last trading day, rising from $0.76 to $0.77 The price has risen in 6 of the last 10 days and is up by 6.92% over the past 2 weeks. Volume fell in the last day by -355 497 shares, and in total, 230 029 shares bought and sold for approximately $177 076.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Catabasis Pharmaceuticals 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 $0.81 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 -20.29% during the next 3 months and, with 90% probability hold a price between $0.41 and $0.65 at the end of this period.
Catabasis 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 $0.78. On a fall, the stock will find some support from the long-term average at approximately $0.70. 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 Friday September 14, 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 56 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.72 and $0.71.
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, Catabasis Pharmaceuticals finds support just below today's level at $0.72. If this is broken, then the next support from accumulated volume will be at $0.71 and $0.63.
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 $0.04 between high and low, or 5.00%. For the last week the stock has had a daily average volatility of 8.09%.
Our recommended stoploss: $0.73 (-5.79%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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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 recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.Click for Top 5 Buy Candidates
|CATB $0.77 $0.01(1.10%)|
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