Wright Medical Group Inc. Contingent Value Right Stock Analysis
Technical stock analysis for 18 January 2019
No changes to the price of Wright Medical Group Inc. Contingent Value Right in the last trading day. The price has risen in 4 of the last 10 days and is up by 100% over the past 2 weeks.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the WMGIZ stock was $0.01.
During day the stock fluctuated 19.00% from a day low at $0.01 to a day high of $0.01.
30 day high of the WMGIZ stock price was $0.02 and low was $0.00.
90 day high was $1.62 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 $0.17 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 -92.54% during the next 3 months and, with 90% probability hold a price between $-0.05 and $0.01 at the end of this period.
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 a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.39. On a fall, the stock will find some support from the short-term average at $0.01. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Thursday January 17, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 33 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 19.00%. For the last week the stock has had a daily average volatility of 14.33%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Wright Medical Group Inc. Contingent Value Right holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.