Fri 20'th Oct 2017
Inotek Pharmaceuticals Corporation Stock Analysis
Technical stock analysis for Fri 20'th Oct 2017
Buy candidate since 2017-10-16 Loss -8.11%
Inotek Pharmaceuticals Corporation lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 121.45% during the next 3 months and, with 90% probability hold a price between $4.01 and $7.42 at the end of this period.
Inotek Pharmaceuticals 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 $2.50. On a fall, the stock will find some support from the long-term average at approximately $1.83. 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 Tuesday October 17, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Inotek Pharmaceuticals Corporation finds support from accumulated volume at $2.33. On the upside the stock meets some resistance from accumulated volume at $2.59, $2.62 and $2.74.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.13 between high and low, or 5.63%. For the last week the stock has had a daily average volatility of 12.96%.
Our recommended stoploss: $2.24 (-5.86%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)
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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.
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