ETRM - EnteroMedics Inc.

Industry: Medical Appliances & Equipment Sector: Healthcare Exchange: NASDAQ

Fri 20'th Oct 2017

PERIOD 2017-07-21 - 2017-10-20
CHANGE 3.54%
PRICE $2.05
VOLUME
Buy
TREND
Sell

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

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EnteroMedics Inc. Stock Analysis

Technical stock analysis for Fri 20'th Oct 2017

Buy candidate since 2017-10-19 Gain 3.54%

EnteroMedics Inc. gained 3.54% in the last trading day, rising from $1.98 to $2.05 The price has fallen in 6 of the last 10 days . Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.29 million more shares were traded than the day before. In total, 1.06 million shares bought and sold for approximately $2.18 million.

Trend

EnteroMedics Inc. 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 $2.46 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 -47.94% during the next 3 months and, with 90% probability hold a price between $0.19 and $1.28 at the end of this period.

Signals

Only positive signals in the chart today. EnteroMedics 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 $2.04 and $1.91. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday October 19, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Relative Strength Index (RSI)

RSI14 is 61 and the stock is currently not being overbought or oversold

Support & Resistance

EnteroMedics Inc. finds support from accumulated volume at $2.03. On the upside the stock meets some resistance just above today's level from accumulated volume at $2.06, $2.11 and $2.24.

The stock is about to test the resistance from accumulated volume at $2.06 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $2.03 Price: $2.05 Resistance: $2.06

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 $0.13 between high and low, or 6.63%. For the last week, the stock has had a daily average volatility of 12.39%.

Our recommended stoploss: $1.94 (-5.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

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 recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

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