Tue 07'th Aug 2018
TransEnterix, Inc Stock Analysis
Technical stock analysis for Tue 07'th Aug 2018
|Shorts||3.06% ( 2018-07-13 )|
TransEnterix, Inc fell by -11.69% in the last day from $5.39 to $4.76 The price has been going up and down for this period, and there has been a -5.74% loss for the last 2 weeks. Volume has increased in the last day by 7.87 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, 13.51 million shares bought and sold for approximately $64.31 million.
TransEnterix, Inc has broken the very wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $5.03. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. TransEnterix, Inc holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $5.24 and $4.78. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday August 01, 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.
Relative Strength Index (RSI)
RSI14 is 47 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 $4.36 and $4.01.
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, TransEnterix, Inc finds support just below today's level at $4.36. If this is broken, then the next support from accumulated volume will be at $4.01 and $4.00.
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 $0.75 between high and low, or 16.63%. For the last week, the stock has had a daily average volatility of 7.11%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The TransEnterix, Inc stock holds several negative signals and despite the positive trend we believe TransEnterix, Inc will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Strong Sell Candidate.Click for Top 5 Strong Sell Candidates