Thu 19'th Oct 2017
Progenics Pharmaceuticals Inc. Stock Analysis
Technical stock analysis for Thu 19'th Oct 2017
Hold candidate since 2017-10-18 Loss -2.40%
Progenics Pharmaceuticals 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 $6.21 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 20.93% during the next 3 months and, with 90% probability hold a price between $7.51 and $9.69 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 $6.72 and $6.82. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday October 02, 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 $6.29. On the upside the stock meets some resistance just above today's level from accumulated volume at $6.66, $7.10 and $7.17.
The stock is about to test the resistance from accumulated volume at $6.66 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $0.34 between high and low, or 5.38%. For the last week, the stock has had a daily average volatility of 5.58%.
Our recommended stoploss: $6.03 (-7.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 13 days ago.)
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Progenics Pharmaceuticals Inc. holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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