ABEO Technical Analysis - ABEONA THERAPEUTICS INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to ABEO. ABEO scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

86% of all other stocks performed better in the past year than ABEO.

ABEO is one of the lesser performing stocks in the Biotechnology industry. 63% of 534 stocks in the same industry do better.

In the last month ABEO has a been trading in the 5.18 - 5.73 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

ABEO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ABEO is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ABEONA THERAPEUTICS INC / ABEO Weekly stock chart

ABEONA THERAPEUTICS INC / ABEO Daily stock chart

Setup Rating and Analysis

ABEO has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 5.67. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 5.40, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

4.38

7.13

We found 2 important support areas.

A support zone ranging from 5.24 to 5.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @4.42 from a horizontal line in the weekly time frame.

We can see 2 important resistance areas.

Resistance @5.67 from a horizontal line in the daily time frame.
Resistance @7.06 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for ABEO is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for ABEO is down.
ChartMill Relative Strength	14.3	NEGATIVE	ABEO has a low relative strength, it was outperformed by 85.7% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of ABEO is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ABEO is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ABEO is below a declining SMA(200).
Relative Strength Index/RSI (14)	43.44	NEUTRAL	The RSI value for ABEO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.05	POSITIVE	The MACD value suggests ABEO has a positive trend, although the MACD value is declining.
Stochastics (14,3)	49.75	NEUTRAL	The Stochastics value for ABEO is a neutral value.
Average True Range in percent/ATR (20)	4.42	MEDIUM VOLATILITY	The ATR as a percentage value for ABEO suggests some volalility.
Average Directional Index/ADX (14)	20.2	NEUTRAL	The ADX value for ABEO suggests a possible start of a new trend.