VOLUME
Sell
TREND
Buy
MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Buy

IMGN Forecast and Technical Stock Analysis


Buy candidate since 2019-09-13 PDF

ImmunoGen fell by -0.94% in the last day ( Friday, 13th Sep 2019 ) from $3.20 to $3.17 and has now fallen 3 days in a row. During the day the stock fluctuated 5.13% from a day low at $3.12 to a day high of $3.28. The price has been going up and down for this period, and there has been a 16.97% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.03 million shares and in total 1.51 million shares bought and sold for approximately $4.78 million.

Quick summary:

  • 30 day high of the IMGN stock price was $3.28 and low was $2.49.
  • 90 day high was $3.28 and low was $1.81.
  • 52 week high for ImmunoGen - $9.84 and low - $1.76.
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Trend

ImmunoGen 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 $3.26 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 43.07% during the next 3 months and, with 90% probability hold a price between $3.85 and $4.67 at the end of this period.

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Signals

ImmunoGen 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 $3.04 and $2.71. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday September 11, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 85 and the stock is extremely overbought on RSI14, so further reactions should be expected. Some stocks may have a long and hard correction after reaching so high an RSI, but not in all cases. However, the short-term risk has increased drastically and larger movements in the next couple of days can be expected.

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $2.83 and $2.50.

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, ImmunoGen finds support just below today's level at $2.83. If this is broken, then the next support from accumulated volume will be at $2.50 and $2.39.

Support: $2.83 Price: $3.17 Resistance: $3.20

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 $0.16 between high and low, or 5.13%. For the last week, the stock has had a daily average volatility of 6.76%.

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 stop-loss: $3.02 (-4.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from pivot top found 2 day(s) ago.)

6.76 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Upgraded

Evaluation

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.

Will IMGN stock price go up or down on Mon, 16 Sep 2019?

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