Xenon Pharmaceuticals Inc. Stock Analysis
Technical stock analysis for 18 January 2019
Xenon Pharmaceuticals Inc. fell by -2.05% in the last day from $7.81 to $7.65 The price has been going up and down for this period, and there has been a 11.35% gain for the last 2 weeks. Volume has increased in the last day by 38 546 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 83 613 shares bought and sold for approximately $639 639.00.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the XENE stock was $7.65. This is 2.05% less than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 4.23% from a day low at $7.57 to a day high of $7.89.
30 day high of the XENE stock price was $8.64 and low was $5.41.
90 day high was $11.12 and low was $5.41.
52 week high for the Xenon Pharmaceuticals Inc. - $15.92 and low - $2.77.
Xenon Pharmaceuticals Inc. 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 $7.75 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 -34.40% during the next 3 months and, with 90% probability hold a price between $2.94 and $5.08 at the end of this period.
Xenon Pharmaceuticals 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 $7.74. On a fall, the stock will find some support from the long-term average at approximately $7.07. 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. A buy signal was issued from a pivot bottom point on Monday January 14, 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. Xenon Pharmaceuticals Inc. 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".
Relative Strength Index (RSI)
RSI14 is 70 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 $6.31 and $6.29.
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, Xenon Pharmaceuticals Inc. finds support just below today's level at $6.31. If this is broken, then the next support from accumulated volume will be at $6.29 and $5.92.
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 $0.32 between high and low, or 4.23%. For the last week, the stock has had a daily average volatility of 3.72%.
Our recommended stoploss: $7.19 (-5.97%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 4 days ago.)
Very Low Low Medium High Very High
Xenon Pharmaceuticals Inc. 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.
|XENE $7.65 $-0.16(-2.05%)|
XENE is down $0.16 today, but where's it headed in 2019?
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