PGNX - Progenics Pharmaceuticals Inc. Fri 24'th Mar 2017
Strong Buy Candidate
Progenics Pharmaceuticals Inc. Stock Analysis
Stock analysis for Fri 24'th Mar 2017 (Updated daily) Buy candidate since 2017-03-24
Progenics Pharmaceuticals Inc. gained 1.53% in the last trading day, rising from USD 11.09 to USD 11.26. The price has been going up and down for this period, and there has been a -1.92% loss for the last 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 0.75 million more shares were traded than the day before. In total, 1.38 million shares bought and sold for approximately USD 15.50 million.
Progenics Pharmaceuticals Inc. lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 37.4% during the next 3 months and, with 90% probability hold a price between USD 14.28 and USD 16.49 at the end of this period.
Only positive signals in the chart today. Progenics Pharmaceuticals Inc. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 11.18 and USD 10.67. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday March 21, 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 54 and the stock is currently not being overbought or oversold
Support & Resistance
Progenics Pharmaceuticals Inc. finds support from accumulated volume at USD 11.22, USD 10.62, and USD 10.54. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 11.48, USD 11.42 and USD 11.32.
The stock is about to test the resistance from accumulated volume at USD 11.48 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 0.41 (3.70%) between high and low. For the last week, the stock has had a daily average volatility of 4.98%.
Our recommended stoploss: USD 10.97 (-2.58%) ( based on support and risk)
Progenics Pharmaceuticals Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.