Silk Road Medical Inc. Forecast and Stock Analysis
Technical SILK stock analysis for Monday June 24, 2019.
Silk Road Medical Inc. fell by -0.42% in the last day ( Monday, 24th Jun 2019 ) from $47.35 to $47.15 and has now fallen 4 days in a row. During day the stock fluctuated 6.58% from a day low at $45.97 to a day high of $49.00. The price has fallen in 6 of the last 10 days and is down by -3.8% for this period. 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 -199 678 shares and in total 206 707 shares bought and sold for approximately $9.75 million.
- 30 day high of the SILK stock price was $51.50 and low was $40.80.
- 90 day high was $51.50 and low was $30.87.
- 52 week high for the Silk Road Medical Inc. - $51.50 and low - $30.87.
Silk Road Medical Inc. lies in the middle of a wide and 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 35.81% during the next 3 months and, with 90% probability hold a price between $60.65 and $74.88 at the end of this period.
Silk Road Medical Inc. holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $47.68. On a fall, the stock will find some support from the long-term average at approximately $45.55. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday June 19, 2019, 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 60 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 $36.66 and $36.18.
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, Silk Road Medical Inc. finds support just below today's level at $36.66. If this is broken, then the next support from accumulated volume will be at $36.18 and $35.80.
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 $3.03 between high and low, or 6.58%. For the last week, the stock has had a daily average volatility of 5.75%.
Our recommended stoploss: $44.47 (-5.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 3 days ago.)
5.75 %Average volatility
Very Low Low Medium High Very High
Several short-term signals, along with a general good trend, are positive and 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 Hold/Accumulate to a Buy Candidate.
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