Revisit the buy and-hold case for Spherix Incorporated (NASDAQ:SPEX)

Spherix Incorporated (NASDAQ:SPEX) gained 5.12% in trading on July 18, 2017, going up from its prior closing price of $2.54 to $2.67, and has now recorded rally in 5 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 5 of the last 10 days , but has retreated -12.75% 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 0.56 million more shares exchanged hands compared with prior day. In total, 1.10 M shares exchanged hands for about $2.94 million.

Inside SPEX’s Recent Trend

Spherix Incorporated (SPEX) enjoys staying at the middle end of a sharp increasing trend in a short period of time and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 54.62% over the course of a quarter and, with 90% chance the price will be floating in the range of $2.18 and $6.51 in this timeframe.

Spherix Incorporated Technical Signals

SPEX has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $2.53 and $1.66. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Wednesday July 12, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.

Spherix Incorporated (NASDAQ:SPEX) Support And Resistance Levels

Spherix Incorporated (SPEX) recorded volume accumulation so there will probably be a surplus of buyers at $2.60, $2.57, and $2.52. In case of gains, the next resistance from accumulated volume will be at $3.06, $2.76.

Spherix Incorporated (SPEX) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.30 between high and low, or 11.95%. The average volatility for the past week stood at 11.23%.


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