Ark Restaurants Corp. Forecast and Stock Analysis
Technical ARKR stock analysis for Wednesday June 26, 2019.
Ark Restaurants Corp. fell by -1.02% in the last day ( Wednesday, 26th Jun 2019 ) from $20.31 to $20.11 and has now fallen 3 days in a row. During day the stock fluctuated 3.37% from a day low at $19.65 to a day high of $20.31. The price has fallen in 5 of the last 10 days and is down by -0.46% for this period. Volume has increased in the last day by 11 537 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 16 108 shares bought and sold for approximately $323 877.00.
Quick summary:
- 30 day high of the ARKR stock price was $20.67 and low was $19.60.
- 90 day high was $20.67 and low was $19.28.
- 52 week high for the Ark Restaurants Corp. - $26.59 and low - $17.75.
Trend
Given the current horizontal trend you can expect Ark Restaurants Corp. with 90% probability to be traded between $20.15 and $21.06 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.
Signals
There are few to none technical positive signals at the moment. Ark Restaurants Corp. holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $20.16 and $20.12. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday June 24, 2019, which indicates further falls until a new bottom pivot has been found. Ark Restaurants Corp. gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
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Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
Ark Restaurants Corp. finds support from accumulated volume at $20.07.
Risk
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 $0.66 (3.37%) between high and low. For the last week, the stock has had a daily average volatility of 1.26%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
1.26 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation:
Ark Restaurants Corp. holds several negative signals and is within a narrow and 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
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