INNT - Innovate Biopharmaceuticals, Inc.

Exchange: NASDAQ

INNT - Innovate Biopharmaceuticals, Inc.

Exchange: NASDAQ
#6582()/6981

Fri 20'th Jul 2018

PERIOD 2018-04-23 - 2018-07-20
CHANGE -5.79%
PRICE $6.18
VOLUME
Sell
TREND
Sell

MV LONG
Sell

MV SHORT
Sell

PIVOT
Sell

MACD
Sell

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Innovate Biopharmaceuticals, Inc. Stock Analysis

Technical stock analysis for Fri 20'th Jul 2018

Sell candidate since 2018-07-12 Loss -73.90%
Shorts 4.45% ( 2018-06-29 )
Cash n/a
Loans n/a
Beta -15.95
ROA -228.08

Innovate Biopharmaceuticals, Inc. fell by -5.79% in the last day from $6.56 to $6.18 The price has fallen in 5 of the last 10 days and is down by -69.75% for this period. 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 -683 960 shares and in total 436 018 shares bought and sold for approximately $2.69 million.

Trend

Innovate Biopharmaceuticals, Inc. has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($9.72) are considered to be a "second chance" to get out. According to the fan-theory $-7.04 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

Click here for today's Top 5 Trending Companies

Signals

There are few to none technical positive signals at the moment. Innovate Biopharmaceuticals, Inc. 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 $11.74 and $15.31. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday July 11, 2018, 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)

The stock currently holds a RSI14 at 22 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

Access full RSI 14 and RSI 21 lists

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

Price: $6.18 Resistance: $6.56

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 $0.54 between high and low, or 8.91%. For the last week, the stock has had a daily average volatility of 39.52%.

Innovate Biopharmaceuticals, Inc. is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

Evaluation

Innovate Biopharmaceuticals, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Sell Candidate

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