Finance

T2 Biosystems, Inc. (NASDAQ:TTOO) Sends Strong Signals on Technical Charts

T2 Biosystems, Inc. (NASDAQ:TTOO) gained 12.41% in trading on July 18, 2017, going up from its prior closing price of $2.66 to $2.99, and has now recorded rally in 5 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 -3.24% 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 1.73 million more shares exchanged hands compared with prior day. In total, 1.83 M shares exchanged hands for about $5.46 million.

Inside TTOO’s Recent Trend

T2 Biosystems, Inc. (TTOO) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -30.66% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.48 and $2.73 in this timeframe.

T2 Biosystems, Inc. Technical Signals



TTOO 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 $3.31. On a drop, the stock is likely to find some support over the short run, which begins at $2.72. 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.

T2 Biosystems, Inc. (NASDAQ:TTOO) Support And Resistance Levels

T2 Biosystems, Inc. (TTOO) recorded volume accumulation so there will probably be a surplus of buyers at $2.91, $2.72, and $2.52. In case of gains, the next resistance from accumulated volume will be at $3.37, $3.15 and $3.47.




T2 Biosystems, Inc. (TTOO) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.41 between high and low, or 14.54%. The average volatility for the past week stood at 8.18%.

 

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