PRTO - Proteon Therapeutics

Industry: Biotechnology Sector: Healthcare

Hold/Accumulate
Fri 21'st Apr 2017

VOLUME
Buy
TREND
Hold
MV LONG
Hold
MV SHORT
Hold
PIVOT
Buy
MACD
Buy
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Proteon Therapeutics Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Hold candidate since 2017-04-20

No changes to the price of Proteon Therapeutics in the last trading day. The price has risen in 4 of the last 10 days and is up by 3.12% over the past 2 weeks.

Trend

Proteon Therapeutics has broken the wide and strong falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is USD 1.62, a level that may pose a second chance to hit a runner. According to fan-theory USD 1.91 will be the next possible trendtop level and thereby pose a resistancelevel which may not be broken on the first attempt.

Signals

A buy signal was issued from a pivot bottom point on Wednesday April 19, 2017, which indicates further gains until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closly at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Relative Strength Index (RSI)

RSI14 is 42 and the stock is currently not being overbought or oversold

Support & Resistance

Proteon Therapeutics finds support from accumulated volume at USD 1.60, USD 1.55, and USD 1.50. On the upside the stock meets some resistance from accumulated volume at USD 1.75, USD 2.05 and USD 1.95.

Risk

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 USD 0.10 between high and low, or 6.25%. For the last week, the stock has had a daily average volatility of 6.25%.

Our recommended stoploss: USD 1.56 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)

Evaluation

Proteon Therapeutics holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.

Hold/Accumulate

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