Alaska Communications Systems Group Stock Analysis
Technical stock analysis for Tue 15'th Jan 2019
Alaska Communications Systems Group gained 5.71% in the last trading day, rising from $1.75 to $1.85 The price has risen in 6 of the last 10 days and is up by 28.47% 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, 84 920 more shares were traded than the day before. In total, 163 413 shares bought and sold for approximately $302 314.00.
Close price at the end of the last trading day (Tuesday, 15th Jan 2019) of the ALSK stock was $1.85. This is 5.71% more than the trading day before Monday, 14th Jan 2019.
During day the stock fluctuated 6.07% from a day low at $1.74 to a day high of $1.85.
30 day high of the ALSK stock price was $1.85 and low was $1.37.
90 day high was $1.85 and low was $1.37.
52 week high for the Alaska Communications Systems Group - $2.64 and low - $1.37.
Alaska Communications Systems Group 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 $1.68, a level that may pose a second chance to hit a runner. According to fan-theory $1.94 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Alaska Communications Systems Group 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 $1.75 and $1.54. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday December 24, 2018, which indicates further gains until a new top pivot has been found. Alaska Communications Systems Group has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Relative Strength Index (RSI)
RSI14 is 96 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.57 and $1.53.
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, Alaska Communications Systems Group finds support just below today's level at $1.57. If this is broken, then the next support from accumulated volume will be at $1.53 and $1.50.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.11 between high and low, or 6.07%. For the last week, the stock has had a daily average volatility of 3.58%.
The stock is extremely overbought on RSI14 (96). 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: $1.78 (-4.04%) (This stock has high daily movements and this gives high risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from pivot bottom found 14 days ago.)
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Alaska Communications Systems Group 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.