Alico Forecast and Stock Analysis
Technical ALCO stock analysis for March 21, 2019.
Alico fell by -1.60% in the last day from $28.17 to $27.72 The price has fallen in 7 of the last 10 days and is down by -5.84% 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 -310 shares and in total 5 728 shares bought and sold for approximately $158 780.00.
Close price at the end of the last trading day (Thursday, 21st Mar 2019) of the ALCO stock was $27.72. This is 1.6% less than the trading day before Wednesday, 20th Mar 2019.
During day the stock fluctuated 1.01% from a day low at $27.72 to a day high of $28.00.
30 day high of the ALCO stock price was $30.95 and low was $27.60.
90 day high was $31.49 and low was $27.60.
52 week high for the Alico - $34.65 and low - $26.78.
Alico has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($28.47) are considered to be a "second chance" to get out. According to the fan-theory $26.26 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
There are few to none technical positive signals at the moment. Alico 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 $28.45 and $29.70. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday February 26, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 16 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Alico is oversold on RSI14 (16). 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.
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Evaluation: Sell Candidate
Alico holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.