Neothetics, Inc. (NASDAQ:NEOT) gained 4.10% in trading on July 18, 2017, going up from its prior closing price of $0.48 to $0.50, and has now recorded rally in 4 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The price has been moving in both directions for this period, and there has been a -9.15% loss over 10-day period. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 0.02 million more shares exchanged hands compared with prior day. In total, 1.84 M shares exchanged hands for about $914 299.
Inside NEOT’s Recent Trend
Neothetics, Inc. (NEOT) lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down through the resistance trend line at $0.34 will initially point to a quick declining speed. Short-term traders are anticipated to see a retreat of -52.40% over the course of a quarter and, with 90% chance the price will be floating in the range of $0.16 and $0.73 in this timeframe.
Neothetics, Inc. Technical Signals
NEOT has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Neothetics is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $1.39. On a drop, the stock is likely to find some support over the short run, which begins at $0.47. A buy signal will be generated if it crosses above the long term moving average.Meanwhile, a price down versus the short-term MA will be a fresh sales call.
Neothetics, Inc. (NASDAQ:NEOT) Support And Resistance Levels
Neothetics, Inc. (NEOT) recorded volume accumulation so there will probably be a surplus of buyers at $0.48, $0.47, and $0.42. In case of gains, the next resistance from accumulated volume will be at $0.54, $0.60 and $0.56.
Neothetics, Inc. (NEOT) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.09 between high and low, or 20.93%. The average volatility for the past week stood at 15.85%.