Wed 13'th Dec 2017
Progenics Pharmaceuticals Inc. Stock Analysis
Technical stock analysis for Wed 13'th Dec 2017
|Shorts||7.37% ( 2017-11-15 )|
Progenics Pharmaceuticals Inc. lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.16 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -23.99% during the next 3 months and, with 90% probability hold a price between $3.54 and $4.68 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 $5.80 and $5.73. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday December 12, 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 60 and the stock is currently not being overbought or oversold
Support & Resistance
Progenics Pharmaceuticals Inc. finds support from accumulated volume at $6.11. On the upside the stock meets some resistance just above today's level from accumulated volume at $6.37, $6.66 and $7.10.
The stock is about to test the resistance from accumulated volume at $6.37 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 $0.48 (8.51%) between high and low. For the last week, the stock has had a daily average volatility of 7.13%.
Our recommended stoploss: $5.86 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
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