Wed 26'th Apr 2017
Progenics Pharmaceuticals Inc. Stock Analysis
Technical stock analysis for Wed 26'th Apr 2017
Sell candidate since 2017-04-26
Progenics Pharmaceuticals Inc. lies in the lower of a very wide and strong falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 7.65 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.4% during the next 3 months and, with 90% probability hold a price between USD 6.70 and USD 9.52 at the end of this period.
There are few to none technical positive signals at the moment. Progenics Pharmaceuticals 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 USD 7.98 and USD 9.66. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday April 25, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 30 and the stock is currently not being overbought or oversold
Support & Resistance
Progenics Pharmaceuticals Inc. finds support from accumulated volume at USD 7.75, USD 7.70. On the upside the stock meets some resistance from accumulated volume at USD 9.60, USD 9.67 and USD 9.62.
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 USD 0.29 between high and low, or 3.70%. For the last week, the stock has had a daily average volatility of 4.85%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Progenics Pharmaceuticals Inc. holds several negative signals and is within a very wide and strong 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.