Strong Buy Candidate
Buy Score Rank #205 out of #5176
Wed 26'th Jul 2017
Ophthotech Corporation Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Buy candidate since 2017-07-25 Gain 2.65%
Given the current horizontal trend you can expect Ophthotech Corporation with 90% probability to be traded between $2.29 and $3.02 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Ophthotech Corporation holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $2.64 and $2.67. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday July 24, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Ophthotech Corporation finds support from accumulated volume at . On the upside the stock meets some resistance from accumulated volume at $2.90, $2.78 and $2.75.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.20 (7.43%) between high and low. For the last week, the stock has had a daily average volatility of 4.74%.
Our recommended stoploss: $2.60 (-4.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
Ophthotech Corporation holds several positive signals and is considered to be a good choice at current levels. We expect the stock to perform great in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.
Strong Buy Candidate
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