GKOS - Glaukos Corporation Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-24
Glaukos Corporation Stock Analysis
Glaukos Corporation gained 1.37% in the last trading day, rising from USD 38.00 to USD 38.52. The price has been going up and down for this period, and there has been a 0.44% gain for the last 2 weeks. Volume fell in the last day by -24 720 shares and ,in total, 369 889 shares bought and sold for approximately USD 14.25 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Glaukos Corporation lies in the upper part of a wide and strong rising 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 USD 39.38 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 15.0% during the next 3 months and, with 90% probability hold a price between USD 38.59 and USD 45.28 at the end of this period.
Only positive signals in the chart today. Glaukos Corporation 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 USD 38.55. On a fall, the stock will find some support from the long-term average at approximately USD 35.45. 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 Thursday January 05, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 72 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
Glaukos Corporation finds support from accumulated volume at USD 38.35, USD 34.01, and USD 33.78. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 38.88, USD 39.48 and USD 39.97.
The stock is about to test the resistance from accumulated volume at USD 38.88 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 0.96 between high and low, or 2.54%. For the last week, the stock has had a daily average volatility of 3.03%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: USD 36.87 (-4.28%) ( criteria: risk and position in trend)
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.