Puma Biotechnology, Inc. (NASDAQ:PBYI) fell by -9.43% during last session from $79.50 to $72.00 and has now fallen 10 consecutive sessions. The price has fallen in 9 of the last 10 days and is down by -25.5% over the same course of time. Volume has increased during last session by 0.81 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.48 M shares exchanged hands for about $106.35 million.

Inside PBYIs Recent Trend

Puma Biotechnology, Inc. (PBYI) has broken the very wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $90.08. A reaction back to this level may hold a second chance to get out before further falls.

Puma Biotechnology, Inc. Technical Signals

PBYI has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $82.49 and $88.81. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Friday July 28, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

Puma Biotechnology, Inc. (NASDAQ:PBYI) 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 $57.80. In case of gains, the next resistance from accumulated volume will not be far away from todays level at $74.95, $78.05 and $83.65.

It seems to be cursed by the accumulated volume as it meets no support below current level and favorable trading conditions around $ will drag the stock lower. Accumulated volume is going to prevent the price from rising further at $74.95 and this action will lead the price to take a temporary pause or stay muted for a few days.

Puma Biotechnology, Inc. (PBYI) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $8.15 between high and low, or 11.43%. The average volatility for the past week stood at 5.62%.

Puma Biotechnology Inc is overbought on RSI14 (13). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.

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