HTGM closes below its opening price unable to hold early session gains

HTG Molecular Diagnostics, Inc. (HTGM) Technical Analysis Report for Sep 14, 2018

Highlights

HTGM closes below its opening price unable to hold early session gains
HTGM finds support at 20-day moving average
HTGM closes lower for the 3rd day in a row
HTGM runs into sellers again around 4.15
HTGM falls to lowest close since August 27th

TQ Sentiment

Report Sentiment: 44% Bearish
Technical Forecast:

Overview

Moving lower for the 3rd day in a row, HTGM ended the week -13.98% lower at 4.00 after edging lower $0.03 (-0.74%) today. Today's closing price of 4.00 marks the lowest close since August 27th. Trading $0.09 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HTGM

Volatility

Friday's trading range was $0.27 (6.65%), that's slightly below last trading month's daily average range of $0.30. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar.

Support/Resistance

Prices are trading close to the key resistance level at 4.22. After having been unable to move above 4.13 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 4.15. After trading as low as 3.88 during the day, the share found support at the 20-day moving average at 3.96.

Trend

Although HTG Molecular is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for HTG Molecular Diagnostics, Inc.

Loading Market Conditions for $HTGM (HTG Molecular Diagnostics, Inc.)...
Latest Report:

HTGM breaks below previous session low

Sep 21, 2018
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