Wright Medical Group Inc. Contingent Value Right Forecast and Stock Analysis
Technical WMGIZ stock analysis for February 21, 2019.
Wright Medical Group Inc. Contingent Value Right gained 6.06% in the last trading day, rising from $0.01 to $0.01 The price has fallen in 4 of the last 10 days and is down by -22.22% for this period. Volume fell in the last day by -216 000 shares, and in total, 161 588 shares bought and sold for approximately $1 131.12. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the WMGIZ stock was $0.01. This is 6.06% more than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 42.86% from a day low at $0.01 to a day high of $0.01.
30 day high of the WMGIZ stock price was $0.01 and low was $0.01.
90 day high was $1.61 and low was $0.00.
52 week high for the Wright Medical Group Inc. Contingent Value Right - $1.62 and low - $0.00.
Wright Medical Group Inc. Contingent Value Right 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 $0.16 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 -90.05% during the next 3 months and, with 90% probability hold a price between $-0.10 and $0.02 at the end of this period.
A buy signal was issued from a pivot bottom point on Wednesday February 20, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Wright Medical Group Inc. Contingent Value Right holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $0.01 and $0.01. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 31 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 $0.01 and $0.01.
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, Wright Medical Group Inc. Contingent Value Right finds support just below today's level at $0.01. If this is broken, then the next support from accumulated volume will be at $0.01 and $0.01.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.00 between high and low, or 42.86%. For the last week the stock has had a daily average volatility of 19.44%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Wright Medical Group Inc. Contingent Value Right holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.