OPHT - Ophthotech Corporation Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-24
Ophthotech Corporation Stock Analysis
Ophthotech Corporation gained 0.45% in the last trading day, rising from USD 4.48 to USD 4.50. The price has fallen in 6 of the last 10 days and is down by -7.22% for this period. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 1.03 million more shares were traded than the day before. In total, 2.36 million shares bought and sold for approximately USD 10.61 million.
Ophthotech Corporation lies in the middle of a very wide and strong falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -70.5% during the next 3 months and, with 90% probability hold a price between USD -2.77 and USD 5.36 at the end of this period.
Ophthotech Corporation 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 USD 4.64 and USD 10.29. A break-up above any of these levels will issue buy signals. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday January 23, 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 41 and the stock is currently not being overbought or oversold
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. On the upside the stock meets some resistance from accumulated volume at USD 4.93, USD 5.13 and USD 5.29.
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 USD 0.24 (5.62%) between high and low. For the last week, the stock has had a daily average volatility of 5.72%.
Our recommended stoploss: USD 4.33 (-3.78%) ( criteria: risk and position in trend)
The stock is within a very wide and strong falling trend and holds several negative signals that may affect the stock in the short-term. We believe, however, today's level to hold a possible buying opportunity and expect the price to be higher at the end of the 3-month period. The careful investor would await further signals. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.