Fri 21'st Apr 2017
Glaukos Corporation Stock Analysis
Technical stock analysis for Fri 21'st Apr 2017
Buy candidate since 2017-04-19 Gain 3.33%
Glaukos Corporation lies in the lower part of a 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 USD 43.66 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 17.8% during the next 3 months and, with 90% probability hold a price between USD 51.44 and USD 64.49 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday April 18, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Glaukos Corporation holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 47.58. On a fall, the stock will find some support from the short-term average at USD 45.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 34 and the stock is currently not being overbought or oversold
Support & Resistance
Glaukos Corporation finds support from accumulated volume at USD 44.71, USD 44.28, and USD 41.22. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 47.70, USD 47.58 and USD 47.76.
The stock is about to test the resistance from accumulated volume at USD 47.70 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 USD 0.95 between high and low, or 2.11%. For the last week, the stock has had a daily average volatility of 5.95%.
Our recommended stoploss: USD 43.28 (-5.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
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. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.