ESES - Eco-Stim Energy Solutions Fri 13'th Jan 2017
Strong Sell Candidate
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Sell candidate since 2017-01-11
Eco-Stim Energy Solutions Stock Analysis
Eco-Stim Energy Solutions fell by -4.05% in the last day, from USD 0.74 to USD 0.71. The price has fallen in 6 of the last 10 days and is down by -31.07% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -11 160 shares and in total there were 59 542 shares bought and sold for approx. USD 42 275.
has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ( ) are considered to be a "second chance" to get out. According to the fan-theory 0 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
There are few to none technical positive signals at the moment. Eco-Stim Energy Solutions holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at USD 0.78 and USD 1.49. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday December 23, 2016, which indicates further falls until a new bottom pivot has been found. Volume fell along with the share price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 11 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 0.74, USD 0.76 and USD 0.81.
The stock is about to test the resistance from accumulated volume at USD 0.74 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved USD 0.09 between high and low, or 12.86%. For the last week the stock has had a daily average volatility of 27.66%.
Eco-Stim Energy Solutions is overbought on RSI14 (11). 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 thge stock will have a reaction back to gain new strength.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Eco-Stim Energy Solutions holds several negative signals and is within a very wide and strong falling trend, so we believe it will still perform weak in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.