Is Momentum Waning From ABB Ltd (ABB), Invitae Corporation (NVTA)?

ABB Ltd (ABB) rose 1.32% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -20.84% and is now up by 0.89% since start of this year. A look at its monthly performance shows that the stock has recorded a -0.1% fall over the past 30 days. Its equity price climbed by 1.64% over the past three months which led to its overall six-month decrease to stand at -17.61%.

Experts from research firms are bullish about the near-term performance of ABB Ltd with most of them predicting a $22.41 price target on a short-term (12 months) basis. The average price target by the analysts will see a 16.84% rise in the stock and would lead to ABB’s market cap to surge to $48.85B. The stock has been rated an average 2.3, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 4 analysts that track ABB Ltd (NYSE:ABB) and find out that 2 of them rated it as a Hold. 2 of the 2 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at ABB technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 43.87 point. Its trading volume has lost -1599373 shares compared to readings over the past three months as it recently exchanged 1500627 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 3100000 shares, and this is 0.48 times the normal volume.

The price of Invitae Corporation (NYSE:NVTA) currently stands at $23.44 after it went up by $0.13 or 0.56% and has found a strong support at $22.84 a share. If the NVTA price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $22.23 mark would also be bad for the stock as it means that the stock would plunge by 5.16% from its current position. However, if the stock price is able to trade above the resistance point around $23.87, then it could likely surge higher to try and break the upward resistance which stands at $24.29 a share. Its average daily volatility over the past one month stands at 6.79%. The stock has plunged by 3.33% from its 52-weeks high of $22.66 which it reached on Mar. 14, 2019. In general, it is 81.44% above its 52-weeks lowest point which stands at $4.35 and this setback was observed on Mar. 28, 2018.

Analysts have predicted a price target for Invitae Corporation (NVTA) for 1 year and it stands at an average $21.54/share. This means that it would likely increase by -8.11% from its current position. The current price of the stock has been moving between $22.66 and $23.69. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $18. On the other hand, one analyst is super bullish about the price, setting a target as high as $29.

The NVTA stock Stochastic Oscillator (%D) is at 94.25%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 12.41 which compares to the 47.58 recorded by the industry or the 10.93 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 0, which is lower than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -18.2% over the past five years.

Analysts view Invitae Corporation (NYSE:NVTA) as a Buy, with 1.8 consensus rating. Reuters surveyed 8 analysts that follow NVTA and found that 1 of those analysts rated the stock as a Hold. The remaining 7 were divided, with 7 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Invitae Corporation (NVTA) shares or sell it if they already own it.