FIRST WAVE BIOPHARMA (FWBI) Stock Technical Analysis
NASDAQ:FWBI - Nasdaq - US33749P4081 - Common Stock - Currency: USD
We assign a technical rating of 1 out of 10 to FWBI. FWBI'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.
Although the technical rating is bad, FWBI does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.96. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.60, a Stop Loss order could be placed below this zone.
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2.56
When analyzing the support we notice one important area.
- A support zone ranging from 2.59 to 2.60. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 2.96 to 3.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 FWBI is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for FWBI is down. |
| ChartMill Relative Strength | 1.7 | NEGATIVE | FWBI has a low relative strength, it was outperformed by 98.3% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FWBI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of FWBI is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of FWBI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 45.71 | NEUTRAL | The RSI value for FWBI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests FWBI has a positive trend. |
| Stochastics (14,3) | 79.17 | NEUTRAL | The Stochastics value for FWBI is a neutral value. |
| Average True Range in percent/ATR (20) | 10.24 | HIGH VOLATILITY | The high ATR as a percentage value for FWBI suggests high volalility. |
| Average Directional Index/ADX (14) | 23.09 | NEUTRAL | The ADX value for FWBI suggests a possible start of a new trend. |
NASDAQ:FWBI (5/16/2024, 8:00:00 PM)
2.96
+0.13 (+4.59%)