CHRS, Stochastic Oscillator left the overbought zone on Oct 09This is a signal that CHRS's price trend could be reversing, and it may be an opportunity to sell the stock or take a defensive position. Tickeron A.I.dvisor identified 63 similar cases where CHRS's stochastic oscillator exited the overbought zone, and 58 of them led to successful outcomes. Odds of Success: 90%. Current price $18.48 crossed the resistance line at $18.65 and is trading between $18.65 resistance and $18.00 support lines. Throughout the month of 09/09/20 - 10/09/20, the price experienced a -1% Downtrend, while the week of 10/02/20 - 10/09/20 shows a +10% Uptrend.
Bearish Trend Analysis
CHRS moved below its 50-day Moving Average on October 09, 2020 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for CHRS crossed bearishly below the 50-day moving average on October 01, 2020. This indicates that the trend has shifted lower and could be considered a sell signal. Tickeron A.I. detected that in 13 of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 81%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple 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 84%.
The Aroon Indicator for CHRS entered a downward trend on September 16, 2020. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
