Off To a Slow Start in New Year Off To a Slow Start in The New Year, Stock Looks For a Turnaround: BioAmber (NYSE:BIOA)
January 28, 2017 Aiken Contributor
BioAmber Inc. (NYSE:BIOA) shares have slid down over the previous month, which may be worrying some investors. BioAmber Inc. will be looking for a turnaround in the New Year. After a recent check, the stock has been down -18.09% for the month. Taking a wider glance, shares are -28.36% since the start of the year. With increased market volatility, shareholders may be having to choose whether to dump the shares or hang on for a possible rebound.
Equity analysts may still see some upside to the stock despite the recent downward trend. Sell-side firms, on a consensus basis have a 1.80 recommendation, according to First Call on BioAmber Inc. (NYSE:BIOA). The recommendation is based on a 1 to 5 scale where 1 or 2 indicates a Buy recommendation, 3 a Hold and 4-5 a Sell.
Technicals
In taking a look at technical levels, shares are trading -23.57% away from the 50 day simple moving average and -5.07% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -39.38% away from it’s 52- week high and 37.76% away from its 52 week low. After the recent decrease, investors may also look to see if the stock has entered oversold territory and could possibly ripe for a bounceback. Traditionally a stock is considered to be oversold when the Relative Strength Index moves below 30. As of writing, BioAmber Inc.’s RSI stands at 33.13. In looking at volatility levels, the shares saw weekly volatility of 9.80% and 8.86% over the past month.