Matinas Biopharma Holdings Inc Forecast and Stock Analysis
Technical MTNB stock analysis for March 19, 2019.
|Shorts||5.45% ( 2019-02-28 )|
Matinas Biopharma Holdings Inc fell by -2.34% in the last day from $1.28 to $1.25 and has now fallen 3 days in a row. The price has been going up and down for this period, and there has been a -8.09% loss 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 -1.30 million shares and in total 1.00 million shares bought and sold for approximately $1.25 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the MTNB stock was $1.25. This is 2.34% less than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 8.06% from a day low at $1.24 to a day high of $1.34.
30 day high of the MTNB stock price was $1.50 and low was $0.98.
90 day high was $1.50 and low was $0.50.
52 week high for the Matinas Biopharma Holdings Inc - $1.50 and low - $0.32.
Matinas Biopharma Holdings Inc lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $1.21 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 80.3% during the next 3 months and, with 90% probability hold a price between $2.17 and $2.89 at the end of this period.
Matinas Biopharma Holdings Inc 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 $1.24 and $1.16. 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 Friday March 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.07 and $1.00.
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, Matinas Biopharma Holdings Inc finds support just below today's level at $1.07. If this is broken, then the next support from accumulated volume will be at $1.00 and $0.99.
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 $0.10 between high and low, or 8.06%. For the last week the stock has had a daily average volatility of 9.57%.
Our recommended stoploss: $1.17 (-6.79%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 2 days ago.)
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Evaluation: Buy Candidate
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.