Tue 31'st Jul 2018
Hologic Stock Analysis
Technical stock analysis for Tue 31'st Jul 2018
|Shorts||3.93% ( 2018-07-13 )|
|Cash||1 205.0 mill|
|Loans||6 700.9 mill|
Hologic fell by -0.02% in the last day from $42.92 to $42.91 The price has risen in 6 of the last 10 days and is up by 3.4% over the past 2 weeks. 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 -0.60 million shares and in total 2.96 million shares bought and sold for approximately $127.04 million.
Hologic lies in the upper part of a narrow and strong rising 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 $43.00 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 12.61% during the next 3 months and, with 90% probability hold a price between $46.30 and $48.42 at the end of this period.
Hologic 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 $42.29 and $40.76. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday July 30, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 64 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 $39.75 and $37.93.
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, Hologic finds support just below today's level at $39.75. If this is broken, then the next support from accumulated volume will be at $37.93 and $36.91.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.75 (1.77%) between high and low. For the last week, the stock has had a daily average volatility of 1.61%.
Our recommended stoploss: $41.21 (-3.97%) (This stock has low daily movements and this gives low 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