Fri 03'rd Aug 2018
Arbutus Biopharma Corporation Stock Analysis
Technical stock analysis for Fri 03'rd Aug 2018
|Shorts||3.40% ( 2018-07-13 )|
Arbutus Biopharma Corporation fell by -21.86% in the last day from $12.35 to $9.65 The price has been going up and down for this period, and there has been a -16.45% loss for the last 2 weeks. Volume has increased in the last day by 0.57 million 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, 1.50 million shares bought and sold for approximately $14.51 million.
Arbutus Biopharma Corporation lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $9.58 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 102.61% during the next 3 months and, with 90% probability hold a price between $19.42 and $26.96 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday August 02, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Arbutus Biopharma Corporation 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 $11.15. On a fall, the stock will find some support from the long-term average at approximately $9.45. 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.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
Arbutus Biopharma Corporation finds support from accumulated volume at $9.20.
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 $2.75 between high and low, or 28.65%. For the last week, the stock has had a daily average volatility of 11.32%.
Our recommended stoploss: $9.05 (-6.18%) (This stock has high daily movements and this gives high risk. There is a sell signal from pivot top found 1 days ago.)
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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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.Click for Top 5 Buy Candidates