T2 Biosystems, Inc. TTOO has taken a beating from its highs but it has been consolidating nicely and could be ready to make another run.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 27.6889. This is not an overbought or oversold reading. The last signal was a buy 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.70. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 16 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -96. This is not a topping or bottoming area. The last signal was a buy 1 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 13 period(s) ago.
T2 BIOSYSTMS ORD (Trade Price) closed down -0.023 at 0.275. Volume was 60% below average (consolidating) and Bollinger Bands were 54% wider than normal.
| Support/Resistance |
| Type | Value | Conf. |
| resist. | 0.65 | 2 |
| resist. | 0.59 | 2 |
| resist. | 0.43 | 2 |
| resist. | 0.36 | 2 |
| resist. | 0.33 | 4 |
| resist. | 0.29 | 7 |
| supp | 0.26 | 2 |
| supp | 0.17 | 2 |
| supp | 0.14 | 4 |
| supp | 0.12 | 2 |
| supp | 0.09 | 4 |
| supp | 0.06 | 6 |
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
T2 BIOSYSTMS ORD (Trade Price) is currently 57.9% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of TTOO.O at a relatively equal pace (turning bullish). Our trend forecasting oscillators are currently bearish on TTOO.O and have had this outlook for the last 5 periods but looking for a reversal turning bullish.
Shayne Heffernan
