Fri 25'th May 2018
Emisphere Technologies, Inc Stock Analysis
Technical stock analysis for Fri 25'th May 2018
Emisphere Technologies, Inc gained 7.14% in the last trading day, rising from $2.10 to $2.25 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 66.67% over the past 2 weeks. Volume fell in the last day by -63 146 shares, and in total, 118 415 shares bought and sold for approximately $266 434. 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.
Emisphere Technologies, Inc lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 174.02% during the next 3 months and, with 90% probability hold a price between $3.06 and $7.02 at the end of this period.
Emisphere Technologies, Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $2.20 and $1.05. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday May 23, 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)
The stock holds a RSI14 at 71 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.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.97 and $1.95.
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, Emisphere Technologies, Inc finds support just below today's level at $1.97. If this is broken, then the next support from accumulated volume will be at $1.95 and $1.80.
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 $0.32 between high and low, or 15.38%. For the last week the stock has had a daily average volatility of 15.62%.
Our recommended stoploss: $2.18 (-3.08%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 71 and this increases the risk substantially. There is a buy signal from pivot bottom found 2 days ago.)
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Several short-term signals, along with a general good trend, are positive and 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.
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