Trends are close to everything, and technical analysis is the sum of all expectations, dreams and hopes. If you understand some technical analysis you can reduce your losses and narrow down the best exit and entry points. Nothing is random, and for us it is all about probabilities as we scan the entire market.
SHORT TERM COMMENTARY: Immunomedics Inc. [Tuesday 22 Aug. 2017]:
Buy Candidate ( 6.50)
Immunomedics Inc. is up by 6.59% yesterday from USD 8.95 to USD 9.54 , and has now gained 5 days in a row. It will be exciting to see if it manages to continue the gaining strike or take a minor break for the next few days. In the last 10 days the price of Immunomedics Inc. has been rising in a total of 7 out of 10 days, and is up by 14.94% over the past 2 weeks. Volume also increased last day along with the price which is positive technical sign, and in total there was traded 1,43 million more shares than the day before. In total there were bought and sold 3,98 million shares for approx. USD 37,94 million.
3 MONTH TREND
Immunomedics Inc. lays in the upper part of a wide and weak rising trend on 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 trendline at USD 9.67 will in first place indicate a stronger raising rate. Given the current short term trend the stock is expected to rise 9.0% during the next 3 months and with 90% probability hold a price between USD 8.37 and USD 10.54 at the end of this period.
Only positive signals in the chart today. Immunomedics Inc. holds buy signals from both short- and long term moving averages. In addition there is a general buysignal 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 USD 8.27 and USD 7.58. A break down bellow any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point at Wed. 16 August 2017 and this indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
RELATIVE STRENGHT INDEX (RSI)
RSI14 is 64 and the stock is currently not being overbought or oversold?
SUPPORT AND RESISTANCE
Immunomedics Inc. finds support from accumulated volume at USD 8.34, USD 7.94 and USD 7.38 There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well in the next couple of days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollingers Bond this stock is considered to be "high risk". Last day they the stock moved USD 0.60 between high and low and this equals 6.62%. For the last week the stock has had an daily average volatility of 8.25%.
Immunomedics Inc. holds several positive signals and are within a weak rising trend. As the old saying says. "Let the trend be your friend.'". We therefor consider to be a good choice at current levels and are expecting further gains during the next 3 months.
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