Innovate Biopharmaceuticals, Inc. Stock Analysis
Technical stock analysis for 18 January 2019
Innovate Biopharmaceuticals, Inc. gained 3.15% in the last trading day, rising from $2.22 to $2.29 The price has fallen in 7 of the last 10 days and is down by -9.49% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 219 120 more shares were traded than the day before. In total, 327 278 shares bought and sold for approximately $749 467.00.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the INNT stock was $2.29. This is 3.15% more than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 9.79% from a day low at $2.12 to a day high of $2.33.
30 day high of the INNT stock price was $2.73 and low was $2.12.
90 day high was $5.20 and low was $2.12.
52 week high for the Innovate Biopharmaceuticals, Inc. - $50.50 and low - $0.51.
Innovate Biopharmaceuticals, Inc. has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $2.24, a level that may pose a second chance to hit a runner. According to fan-theory $3.58 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
A buy signal was issued from a pivot bottom point on Monday January 14, 2019, which indicates further gains until a new top pivot has been found. Innovate Biopharmaceuticals, Inc. has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Innovate Biopharmaceuticals, Inc. 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 sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $2.43. On a fall, the stock will find some support from the short-term average at $2.24. 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 41 and the stock is currently not being overbought or oversold
Support & Resistance
Innovate Biopharmaceuticals, Inc. finds support from accumulated volume at $2.26.
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 $0.21 between high and low, or 9.79%. For the last week, the stock has had a daily average volatility of 9.23%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Innovate Biopharmaceuticals, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.