Technical Alert: Cancer Genetics Inc (NASDAQ:CGIX) expected to fall -44.86% during the next 3 months

Cancer Genetics Inc (NASDAQ:CGIX) Recent Update:

Cancer Genetics Inc (NASDAQ:CGIX) stock traded volume of 18994349 shares during its today current trading session as compared to its average volume of 2307822 shares over the recent month. CGIX trading its day with the above stream along the move of 21.48% and reached at the price of $0.13 before opening at $0.1. It has total market capitalization is $7888142. 52 week range of the stock remained $ 0.09 – 1.05 while its day lowest price is $0.1 and its hit its day highest price at $0.15

Cancer Genetics Inc (NASDAQ:CGIX) Forecast and Technical Stock Analysis Report on Monday, 30th Sep 2019

CGIX is Hold candidate since 2019-09-30

Cancer Genetics gained 7.19% in the last trading day ( Monday, 30th Sep 2019 ), rising from $0.10 to $0.10 During the day the stock fluctuated 12.94% from a day low at $0.10 to a day high of $0.11. The price has been going up and down for this period, and there has been a 10.05% gain for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 3.32 million more shares were traded than the day before. In total, 3.94 million shares bought and sold for approximately $405 871.00.

Quick summary:

30 day high of the CGIX stock price was $0.11 and low was $0.09.

90 day high was $0.27 and low was $0.09.

52 week high for Cancer Genetics – $1.05 and low – $0.09.

Trend

Cancer Genetics lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -44.86% during the next 3 months and, with 90% probability hold a price between $0.03 and $0.07 at the end of this period.

Signals

A buy signal was issued from a pivot bottom point on Friday September 27, 2019, which indicates further gains until a new top pivot has been found. Cancer Genetics has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Cancer Genetics holds a buy signal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.10. On a fall, the stock will find some support from the short-term average at $0.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.

Relative Strength Index (RSI)

RSImin/max Values: [ 25 – 75 ]

RSI14 is 55 and the stock is currently not being overbought or oversold

Support & Resistance

Cancer Genetics finds support from accumulated volume at $0.10.

Support: $0.10  Price: $0.10  Resistance: $0.10

Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be “high risk”. During the last day, the stock moved $0.01 between high and low, or 12.94%. For the last week, the stock has had a daily average volatility of 8.04%.

Average volatility: 8.04 %

Overall risk: Low Medium

Evaluation Cancer Genetics holds several positive signals, but we still don’t find these to be enough for a buy-recommendation. At the current level, we recommend to hold or accumulate in this position whilst awaiting further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.

The general sentiment holds a neutral evaluation of the stock right now. The sentiment is based upon 94 votes on StockTwits.

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