OII - Oceaneering International Inc Fri 13'th Jan 2017
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Sell candidate since 2017-01-12
Oceaneering International Inc Stock Analysis
Oceaneering International Inc fell by -1.77% in the last day, from USD 28.21 to USD 27.71. , and has now fallen 3 day in a row The price has fallen in 7 of the last 10 days and is down by -1.84% 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 -0.04 million shares and in total there were 1.04 million shares bought and sold for approx. USD 28.94 million.
Oceaneering International Inc lays in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 26.53 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.6% during the next 3 months and, with 90% probability will hold a price between USD 31.45 and USD 39.47 at the end of this period.
There are few to none technical positive signals at the moment. Oceaneering International Inc 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 28.41 and USD 28.59. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday December 13, 2016, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 28 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Oceaneering International Inc finds support from accumulated volume at USD 26.65, USD 24.01, and USD 23.40. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 28.90, USD 30.72 and USD 31.53.
The stock is about to test the resistance from accumulated volume at USD 28.90 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day the stock moved USD 0.68 between high and low, and this equals 2.46%. For the last week, the stock has had a daily average volatility of 3.21%.
Oceaneering International Inc is oversold on RSI14 (28). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
The stock holds several negative signals and despite the positive trend we believe Oceaneering International Inc to perform weak in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.