Why Microbot Medical Inc. (NASDAQ:MBOT) Is Sending Bullish Signals?

Microbot Medical Inc. (NASDAQ:MBOT) shares surged 18.75% during trading on Thursday, going up from its prior closing price of $1.12 to $1.33 The price has fallen in 7 of the last 10 days and is down by -5% over the same course of time. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 2.40 million more shares exchanged hands compared with prior day. In total, 3.13 M shares exchanged hands for about $4.16 million.

Inside MBOT’s Recent Trend

Microbot Medical Inc. (MBOT) 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 -61.94% over the course of a quarter and, with 90% chance the price will be floating in the range of $-0.06 and $1.09 in this timeframe.

Microbot Medical Inc. Technical Signals

MBOT 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 $1.80. On a drop, the stock is likely to find some support over the short run, which begins at $1.19. 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.

Microbot Medical Inc. (NASDAQ:MBOT) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $1.18 and $1.16. In case of gains, the next resistance from accumulated volume will be at $1.59, $1.43 and $1.48.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Microbot Medical Inc approaches the first support point just current price at $1.18. In case of a break, the next support we will see from accumulated volume is going to be at $1.16 and $1.12.

Microbot Medical Inc. (MBOT) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.26 between high and low, or 24.07%. The average volatility for the past week stood at 12.57%.


Previous ArticleNext Article

Related Post

Analyzing the Insider Data for Payment Data System... Recent insider trends for Payment Data Systems, Inc. (NASDAQ:PYDS) have caught the attention of investors. Insider data is useful because it can revea...
Should You Invest in Mylan N.V. (MYL)? A Look at t... Recent insider trends for Mylan N.V. (NASDAQ:MYL) have caught the attention of investors. Analysts study insider data to get a sense of sense of what ...
Should You Invest in Hologic, Inc. (HOLX)? A Look ... Recent insider trends for Hologic, Inc. (NASDAQ:HOLX) have caught the attention of investors. Analysts monitor insider data to understand the sentimen...
The Fundamental Facts on Texas Instruments Incorpo... Texas Instruments Incorporated (NASDAQ:TXN) is on our radar right now but there could still be some opportunities on the horizon. Now trading with a m...
Hewlett Packard Enterprise (HPE) vs. Dell Technolo... Hewlett Packard Enterprise Company (NYSE:HPE) and Dell Technologies Inc. (NYSE:DVMT) are the two most active stocks in the Diversified Computer System...