Apogee Enterprises Forecast and Stock Analysis
Technical APOG stock analysis for February 15, 2019.
Apogee Enterprises gained 1.82% in the last trading day, rising from $35.62 to $36.27 The price has risen in 7 of the last 10 days and is up by 5.59% over the past 2 weeks. Volume fell in the last day by -25 081 shares, and in total, 122 206 shares bought and sold for approximately $4.43 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the APOG stock was $36.27. This is 1.82% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.31% from a day low at $35.54 to a day high of $36.36.
30 day high of the APOG stock price was $36.36 and low was $32.18.
90 day high was $37.29 and low was $26.38.
52 week high for the Apogee Enterprises - $50.87 and low - $26.38.
Apogee Enterprises is the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $37.13 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Apogee Enterprises with 90% probability to be traded between $27.00 and $37.33 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Apogee Enterprises 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 $35.29 and $33.25. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 29, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 85 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
Apogee Enterprises finds support from accumulated volume at $35.89.
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 $0.82 (2.31%) between high and low. For the last week, the stock has had a daily average volatility of 1.93%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $34.87 (-3.87%) (This stock has low daily movements and this gives low risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from pivot bottom found 13 days ago.)
Very Low Low Medium High Very High
Evaluation: Buy Candidate
Several short-term signals are positive and 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 period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.