Weaker technical forecast for Art as stock downgraded to Sell Candidate.
(Updated on Dec 03, 2021)
Sell candidate since 2021-12-03 PDF
The Art stock price fell by -4.04% on the last day (Friday, 3rd Dec 2021) from $3.50 to $3.36. and has now fallen 6 days in a row. During the day the stock fluctuated 4.78% from a day low at $3.35 to a day high of $3.51. The price has fallen in 7 of the last 10 days and is down by -10.4% for this period. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 17 thousand shares were bought and sold for approximately $56.40 thousand.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $3.59. A reaction back to this level may hold a second chance to get out before further falls.
Signals & Forecast
There are few to no technical positive signals at the moment. The Art stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell 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 $3.56 and $3.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 09, 2021, and so far it has fallen -13.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Art gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
Art finds support from accumulated volume at $3.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.16 between high and low, or 4.78%. For the last week, the stock has had a daily average volatility of 4.10%.
Art is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Art stock A Buy?
The Art stock holds several negative signals and despite the positive trend, we believe Art will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.100
Predicted Opening Price for Art of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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