Help us make better tools for you!. Read more (Published: 2017-01-12)

SPLK - Splunk Inc. Fri 13'th Jan 2017

Industry: Application Software Sector: Technology
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Buy Candidate

Score: 3.27

#1627 of 5193
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 84.38%
Risk: Medium
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Stock analysis for Fri 13'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-13

Splunk Inc. Stock Analysis


Splunk Inc. gained 0.16% in the last trading day rising from, USD 56.33 to USD 56.42. The price has risen in 6 of the last 10 days days and is up by 8.9% over the past 2 weeks. Volume fell in the last day by -1.11 million shares and ,in total, 3.08 million shares bought and sold for approximately USD 174 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

Splunk Inc. lays in the middle of a wide and weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.6% during the next 3 months and, with 90% probability will hold a price between USD 45.43 and USD 52.83 at the end of this period.

Signals

Only positive signals in the chart today. Splunk Inc. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 56.15 and USD 55.19. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 12, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

Relative Strength Index (RSI)

RSI14 is 66 and the stock is currently not being overbought or oversold

Support & Resistance

Splunk Inc. finds support from accumulated volume at USD 56.33, USD 53.68, and USD 53.33. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 57.38, USD 57.62 and USD 57.95.

The stock is about to test the resistance from accumulated volume at USD 57.38 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

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 2.29 between high and low, and this equals 4.14%. For the last week, the stock has had a daily average volatility of 4.25%.

Our recommended stoploss: USD 56.14 (-0.50%) ( criteria: risk and position in trend)

Evaluation

Several short-term signals are positive and despite the stock being in a weak falling trend we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate


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