Fri 20'th Apr 2018
Progenics Pharmaceuticals Inc. Stock Analysis
Technical stock analysis for Fri 20'th Apr 2018
Progenics Pharmaceuticals Inc. fell by -0.28% in the last day from $7.02 to $7.00 and has now fallen 4 days in a row. The price has been going up and down for this period, and there has been a -1.27% 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 -404 497 shares and in total 516 810 shares bought and sold for approximately $3.62 million.
|Shorts||5.03% ( 2018-03-29 )|
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 $6.71 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 27.61% during the next 3 months and, with 90% probability hold a price between $8.56 and $11.86 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 $7.21 and $7.55. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday April 12, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 46 and the stock is currently not being overbought or oversold
Support & Resistance
Progenics Pharmaceuticals Inc. finds support from accumulated volume at $6.71. On the upside the stock meets some resistance just above today's level from accumulated volume at $7.34, $7.54 and $8.32.
The stock is about to test the resistance from accumulated volume at $7.34 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 $0.15 between high and low, or 2.16%. For the last week, the stock has had a daily average volatility of 3.57%.
Our recommended stoploss: $6.59 (-5.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 6 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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