Xenon Pharmaceuticals Inc. Forecast and Stock Analysis
Technical XENE stock analysis for March 19, 2019.
Xenon Pharmaceuticals Inc. gained 3.45% in the last trading day, rising from $9.28 to $9.60 The price has risen in 6 of the last 10 days and is up by 10.73% over the past 2 weeks. Volume fell in the last day by -28 411 shares, and in total, 36 079 shares bought and sold for approximately $346 358.00. 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 (Tuesday, 19th Mar 2019) of the XENE stock was $9.60. This is 3.45% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 5.87% from a day low at $9.20 to a day high of $9.74.
30 day high of the XENE stock price was $10.00 and low was $7.58.
90 day high was $10.00 and low was $5.41.
52 week high for the Xenon Pharmaceuticals Inc. - $15.92 and low - $4.45.
Xenon Pharmaceuticals Inc. lies in the middle of a very 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 40.56% during the next 3 months and, with 90% probability hold a price between $12.13 and $15.21 at the end of this period.
Xenon Pharmaceuticals Inc. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $9.45 and $8.61. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday March 18, 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. 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 also not.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Xenon Pharmaceuticals Inc. finds support from accumulated volume at $9.30.
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 $0.54 between high and low, or 5.87%. For the last week the stock has had a daily average volatility of 5.64%.
Our recommended stoploss: $9.13 (-4.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
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.