Thu 21'st Sep 2017
PhotoMedex Stock Analysis
Technical stock analysis for Thu 21'st Sep 2017
Sell candidate since 2017-09-19 Loss -8.77%
PhotoMedex lies in the middle of a very wide and weak 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 6.4% during the next 3 months and, with 90% probability hold a price between $0.82 and $1.38 at the end of this period.
There are few to none technical positive signals at the moment. PhotoMedex holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $1.06 and $1.06. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday September 19, 2017, which indicates further falls until a new bottom pivot has been found. PhotoMedex gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 41 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.95 and $0.88. On the upside the stock meets some resistance from accumulated volume at $1.14, $1.22 and $1.23.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PhotoMedex finds support just below today's level at $0.95. If this is broken, then the next support from accumulated volume will be at $0.88 and $0.78.
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 $0.01 between high and low, or 0.96%. For the last week, the stock has had a daily average volatility of 8.77%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
The stock stock holds several negative signals and despite the positive trend we believe PhotoMedex will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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