Buy Score Rank #2289 out of #5176
Wed 26'th Jul 2017
Acacia Communications Inc. Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Buy candidate since 2017-07-18 Gain 13.03%
Acacia Communications Inc. lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $45.49 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.56% during the next 3 months and, with 90% probability hold a price between $33.37 and $39.78 at the end of this period.
Acacia Communications 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 $43.14 and $43.02. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday July 25, 2017, 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)
RSI14 is 64 and the stock is currently not being overbought or oversold
Support & Resistance
Acacia Communications Inc. finds support from accumulated volume at . On the upside the stock meets some resistance from accumulated volume at $48.41, $44.83 and $48.85.
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 $1.54 (3.50%) between high and low. For the last week, the stock has had a daily average volatility of 5.24%.
Our recommended stoploss: $42.61 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
Several short-term signals are positive, despite the stock being in a 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. 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 Buy Candidate.
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