Tue 31'st Jul 2018
Biostar Pharmaceuticals Stock Analysis
Technical stock analysis for Tue 31'st Jul 2018
|Shorts||2.72% ( 2018-07-13 )|
Biostar Pharmaceuticals fell by -4.10% in the last day from $1.95 to $1.87 and has now fallen 3 days in a row. The price has fallen in 7 of the last 10 days and is down by -19.74% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -310 656 shares and in total 121 850 shares bought and sold for approximately $227 860.00.
Biostar Pharmaceuticals lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.54% during the next 3 months and, with 90% probability hold a price between $1.09 and $2.12 at the end of this period.
There are few to none technical positive signals at the moment. Biostar Pharmaceuticals 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 $1.91 and $2.23. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday July 27, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 37 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 $1.71.
With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.00 may give a huge drop in the stock price.
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 $0.24 between high and low, or 13.42%. For the last week the stock has had a daily average volatility of 64.13%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Biostar Pharmaceuticals 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.Click for Top 5 Sell Candidates