ACA Capital Holdings Inc Forecast and Stock Analysis
Technical ACA.L stock analysis for February 15, 2019.
|Shorts||3.69% ( 2019-01-31 )|
ACA Capital Holdings Inc gained 8.50% in the last trading day, rising from £199.35 to £216.30 , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 12.36% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.85 million more shares were traded than the day before. In total, 1.53 million shares bought and sold for approximately £331.61 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ACA.L stock was £216.30. This is 8.5% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 9.25% from a day low at £199.45 to a day high of £217.90.
30 day high of the ACA.L stock price was £217.90 and low was £173.95.
90 day high was £217.90 and low was £171.70.
52 week high for the ACA Capital Holdings Inc - £217.90 and low - £93.56.
ACA Capital Holdings Inc has broken the wide and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at £207.04, a level that may pose a second chance to hit a runner. According to fan-theory £235.52 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
ACA Capital Holdings 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 £196.21 and £191.84. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday February 11, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 82 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £200.00 and £185.80.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ACA Capital Holdings Inc finds support just below today's level at £200.00. If this is broken, then the next support from accumulated volume will be at £185.80 and £182.65.
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 £18.45 (9.25%) between high and low. For the last week, the stock has had a daily average volatility of 6.16%.
The stock is extremely overbought on RSI14 (82). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: £208.19 (-3.75%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from pivot bottom found 4 days ago.)
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ACA Capital Holdings Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Hold/Accumulate.