Why Intec Pharma Ltd. (NTEC) Is Sending Bullish Signals?

Intec Pharma Ltd. (NASDAQ:NTEC) gained 13.40% in yesterday’s session, going up from its prior closing price of $4.85 to $5.50. The price has fallen in 5 of the last 10 days, but is still up by 0.92% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 1.09 million more shares exchanged hands compared with prior day. In total, 1.12 M shares exchanged hands for about $6.19 million.

Inside NTEC’s Recent Trend

Intec Pharma Ltd. (NTEC) with 90% probability for the price to range between $4.78 and $5.60 in this timeframe. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.

Intec Pharma Ltd. Technical Signals

NTEC 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 $5.17 and $5.44. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Tuesday August 15, 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.

Intec Pharma Ltd. (NASDAQ:NTEC) Support And Resistance Levels

Intec Pharma Ltd. (NTEC) recorded volume accumulation so there will probably be a surplus of buyers at $5.45. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $5.53, $5.55 and $5.65.

Accumulated volume is going to prevent the price from rising further at $5.53 and this action will lead the price to take a temporary pause or stay muted for a few days.

Intec Pharma Ltd. (NTEC) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.90 between high and low, or 18.75%. The average volatility for the past week stood at 9.13%.


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