Stocks Running Into Resistance: Trevena, Inc. (TRVN), Eros International Plc (EROS)

Trevena, Inc. (NASDAQ:TRVN) has its shares plummet by -60.5% or $1.21 from its all-time high of $2, with TRVN attaining that price back on March 20, 2019. The drop in the price of the shares saw it stand at $0.79 per share. TRVN has been trading at a low of $0.38 over the past one year but it surged by 107.89% or $0.41 to reach the $0.79 mark. Following the massive rise in stock price, TRVN received more attention from investors and analysts. On Tuesday, the stock dipped by -3.66%, which caused investors and analysts to worry about it. Following the plunge in price, the TRVN beta stands at 2.62, implying that its volatility level has gone up by -1.62 ahead of the general market. A look at the stock’s 200-day moving average shows that it is -32.3% below while its 50-day moving average shows that it is currently -15.71% below. Compared to 6.67% average daily volatility of past month, the stock’s average volatility for this week has increased by 3.18 as the volatility level currently stands at 9.85%.

Over the past seven days, the stock has witnessed a price dip by -20.81%. This massive drop in stock price has caught the attention of both investors and market traders. The stock has performed excellently over the past 52 weeks, rising by 11.28% during that time frame and is now up by 83.72% since this point this year. TRVN has fell by -18.56% over the past 30 days, with its equity price losing% of its value over the past ninety days. These figures add up to see the stock record a shortfall of -46.62% over the past six months.

Market analysts from research firms still remain bullish about the short-term performance of TRVN. Most of them are of the view that the stock would be able to reach $3.75 over the next 12 months. If that happens, then the stock would witness a 374.68% rise in its price and that would see the stock’s market cap hit an astonishing $347 Million. Analysts view this stock as a bullish at the moment as its average rating is 2. According to Reuters, most of the 1 analysts covering the stock at the moment believe it is a Buy. 0 of them rated TRVN as a Hold while 1 of them either rated it as a Buy or a Strong Buy. However, 0 of them advised investors to sell the stock if they have it or shouldn’t buy it if they don’t possess any.

The stock’s technical analysis reveals that its 14-day Relative Strength Index (RSI) is currently in a neutral position as it was able to attain 32.27 points. The trading volume now standing at 1984068 shares. The increase of 1479218 shares in trading volume shows that traders and investors have shown more interest in the stock over the past few weeks. During that trading session, the average trading volume of TRVN was 504850 shares, which is more than 3.93 times higher than its usual trading volume.

Eros International Plc has seen its stock (NYSE:EROS) surge by $0.12 or 4.94% to currently trade at $2.55. This rise in the price of the stock has seen it establish a strong support at $2.38 a share. If the stock price is to drop below that support level, then it would be followed by a bearish trend. A slip below $2.22 would be bad for EROS as it would mean that the stock has lost 12.94% of its value. The stock going in the opposite direction and breaking past the resistance point to reach $2.65 would see it surge even higher. EROS would attempt to surge past the upward resistance point which is set at $2.76 a share. EROS has an average volatility of 12.63% over the past 30 days, while it has gained 55.29% of its value compared to its 52-weeks low point which stands at $1.14 on Aug 16, 2019. In the same breath, EROS has lost 9.02% compared to its 52-weeks high point which currently stands at $2.32 a share reached on Nov 16, 2018.