Kitov Pharmaceuticals Holdings Ltd. (NASDAQ:KTOV) shares surged 16.13% during trading on Thursday, going up from its prior closing price of $1.55 to $1.80 , and has now gained 4 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 6 of the last 10 days , but has retreated -24.69% over the same course of time. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 131 423 more shares exchanged hands compared with prior day. In total, 496 257 shares was the trading volume and the dollar amount of trading equals $893 263.
Inside KTOV’s Recent Trend
Kitov Pharmaceuticals Holdings Ltd. (KTOV) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -12.80% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.09 and $2.03 in this timeframe.
Kitov Pharmaceuticals Holdings Ltd. Technical Signals
KTOV has witnessed its long term and short term MA triggering a buy signal but chances are low for long-term averages to cross above short-term averages which the market considers a major buy signal. Upon corrections, the price will meet support from the averages between $1.47 and $1.67. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Tuesday July 11, 2017, which calls for additional surge until the stock forms a new pivot point high. Kitov Pharamceuticals Holdings Ltd. 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.
Kitov Pharmaceuticals Holdings Ltd. (NASDAQ:KTOV) Support And Resistance Levels
In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $1.55 and $1.47. In case of gains, the next resistance from accumulated volume will be at $1.92, $1.95 and $1.85.
It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Kitov Pharamceuticals Holdings Ltd. approaches the first support point just current price at $1.55. In case of a break, the next support we will see from accumulated volume is going to be at $1.47 and $1.39.
Kitov Pharmaceuticals Holdings Ltd. (KTOV) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.25 between high and low, or 16.13%. The average volatility for the past week stood at 12.33%.