Generex Biotechnology Corp Forecast and Stock Analysis
Technical GNBT stock analysis for March 22, 2019.
Generex Biotechnology Corp gained 0.66% in the last trading day, rising from $1.52 to $1.53 , 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 been going up and down for this period, and there has been a -2.17% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 10 023 more shares were traded than the day before. In total, 51 599 shares bought and sold for approximately $78 946.50.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the GNBT stock was $1.53. This is 0.66% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.80% from a day low at $1.50 to a day high of $1.56.
30 day high of the GNBT stock price was $2.05 and low was $1.36.
90 day high was $3.10 and low was $0.86.
52 week high for the Generex Biotechnology Corp - $25.30 and low - $0.65.
Generex Biotechnology Corp is the lower part of a very wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at $1.27 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect Generex Biotechnology Corp with 90% probability to be traded between $1.27 and $2.98 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Wednesday March 20, 2019, which indicates further gains until a new top pivot has been found. Generex Biotechnology Corp has rising volume and follows the last lift in the price. This considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Generex Biotechnology Corp holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $1.54 and $1.73. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
Generex Biotechnology Corp finds support from accumulated volume at $1.50.
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 $0.06 between high and low, or 3.80%. For the last week, the stock has had a daily average volatility of 5.17%.
Our recommended stoploss: $1.43 (-6.49%) (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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Generex Biotechnology Corp holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development.