tickeron

FLGT, RSI Indicator left the overbought zone on January 14, 2021

Short
NASDAQ:FLGT   FULGENT GENETICS INC
This is a signal that FLGT's price could be shifting from an uptrend to a downtrend. Traders may consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked back and found 31 similar cases where FLGT's RSI Indicator left the overbought zone, and in 29 of them led to a successful outcome. Odds of Success: 90%. Current price $71.00 is above $50.51 the highest resistance line found by Tickeron A.I. Throughout the month of 12/11/20 - 01 /14/21, the price experienced a +39% Uptrend, while the week of 01 /07/21 - 01 /14/21 shows a -2% Downtrend.

Bearish Trend Analysis
The 10-day RSI Indicator for FLGT moved out of overbought territory on January 14, 2021. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 31 similar instances where the indicator moved out of overbought territory. In 29 of the 31 cases, the stock moved lower in the following days. This puts the odds of a move lower at 90%.

The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where FLGT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 80%.

FLGT broke above its upper Bollinger Band on January 04, 2021. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out