An interesting stock that came up in some of our conversations today is Cancer Genetics, Inc. (NASDAQ:CGIX). At current price of $0.16, the shares have already lost -0.02 points (-7% lower) from its previous close of $0.18. Should you buy or avoid them? The stock sets an active trading volume day with a reported 8185198 contracts so far this session. CGIX shares had a relatively better volume day versus average trading capacity of 4.38 million shares, but with a 50.09 million float and a 63.98% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CGIX stock indicates that the average analyst price target is $3 per share. This means the stock has a potential increase of 1775% from where the CGIX share price has been trading recently which is between $0.15 and $0.185. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $3.
Looking at the current readings for Cancer Genetics, Inc., the two-week RSI stands at 61.42. This figure suggests that CGIX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CGIX readings is similarly very revealing as it has a stochastic reading of 71.67% at this stage. This figure means that CGIX share price today is being oversold.
Technical chart claims that Cancer Genetics, Inc. (CGIX) would settle between $0.19/share to $0.21/share level. However, if the stock price goes below the $0.16 mark, then the market for Cancer Genetics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.14 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group, assumed coverage of CGIX assigning Buy rating, according to their opinion released on December 07. Dawson James, analysts launched coverage of Cancer Genetics, Inc. (NASDAQ:CGIX) stock with a Buy recommendation, according to their flash note issued to investors on June 27. Analysts at The Benchmark Company, made their first call for the equity with a Speculative Buy recommendation, according to a research note that dated back to June 26.