EVAX Technical Analysis - EVAXION A/S

Technical Rating and Analysis

Taking everything into account, EVAX scores 7 out of 10 in our technical rating. EVAX has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.

EVAX is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

In the last month EVAX has a been trading in the 2.52 - 4.75 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

EVAX has an average volume of 1635330 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When compared to the yearly performance of all other stocks, EVAX outperforms 60% of them, which is more or less in line with the market.

EVAX is an average performer in the Biotechnology industry, it outperforms 59% of 538 stocks in the same industry.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although EVAX has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.58

4.59

When analyzing the support we can see 3 important areas.

Support @2.83 from a trend line in the daily time frame.
Support @2.75 from a trend line in the daily time frame.
Support @2.61 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 4.52 to 4.54. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	NEUTRAL	NEUTRAL	The long term trend for EVAX is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for EVAX is up.
ChartMill Relative Strength	60.41	NEUTRAL	EVAX is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of EVAX is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of EVAX is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of EVAX is above a declining SMA(200).
Relative Strength Index/RSI (14)	82.36	OVERBOUGHT	The high RSI value suggests EVAX may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.12	POSITIVE	The MACD value suggests EVAX has a positive trend.
Stochastics (14,3)	86.6	OVERBOUGHT	The high Stochastics value suggests EVAX may be overbought.
Average True Range in percent/ATR (20)	6.07	HIGH VOLATILITY	The high ATR as a percentage value for EVAX suggests high volalility.
Average Directional Index/ADX (14)	17.06	NEGATIVE	The low ADX value for EVAX suggests a weak or negative trend.