FHTX Technical Analysis - FOGHORN THERAPEUTICS INC

Technical Rating and Analysis

Overall FHTX gets a technical rating of 0 out of 10. FHTX's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

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

95% of all other stocks performed better in the past year than FHTX.

FHTX is one of the lesser performing stocks in the Biotechnology industry. 78% of 536 stocks in the same industry do better.

FHTX 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.

In the last month FHTX has a been trading in the 4.02 - 5.58 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

FOGHORN THERAPEUTICS INC / FHTX Weekly stock chart

FOGHORN THERAPEUTICS INC / FHTX Daily stock chart

Setup Rating and Analysis

FHTX has a poor technical rating and the quality of the setup is also only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

3.61

6.19

2 important support areas can be observed.

A support zone ranging from 4.05 to 4.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @3.65 from a trend line in the weekly time frame.

When analyzing the resistance we notice 3 important areas.

Resistance @5.12 from a trend line in the daily time frame.
Resistance @5.35 from a trend line in the weekly time frame.
Resistance @6.13 from a horizontal line in the weekly time frame.

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What is Support and Resistance

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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 FHTX is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for FHTX is down.
ChartMill Relative Strength	5.92	NEGATIVE	FHTX has a low relative strength, it was outperformed by 94.08% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of FHTX is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of FHTX is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of FHTX is below a declining SMA(200).
Relative Strength Index/RSI (14)	32.49	NEUTRAL	The RSI value for FHTX is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.06	NEGATIVE	The MACD value suggests FHTX has a negative trend.
Stochastics (14,3)	9.5	OVERSOLD	The low Stochastics value suggests FHTX may be oversold.
Average True Range in percent/ATR (20)	8.38	HIGH VOLATILITY	The high ATR as a percentage value for FHTX suggests high volalility.
Average Directional Index/ADX (14)	26.81	POSITIVE	The high ADX value value for FHTX suggests a strong trend.