Ascent Capital Group Forecast and Stock Analysis
Technical ASCMA stock analysis for April 24, 2019.
Ascent Capital Group gained 2.13% in the last trading day, rising from $0.70 to $0.72 The price has fallen in 6 of the last 10 days , but is still up by 2.88% over the past 2 weeks. Volume fell in the last day by -14 183 shares, and in total, 7 053 shares bought and sold for approximately $5 042.90. 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 (Wednesday, 24th Apr 2019) of the ASCMA stock was $0.72. This is 2.13% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 8.21% from a day low at $0.71 to a day high of $0.77.
30 day high of the ASCMA stock price was $0.84 and low was $0.54.
90 day high was $0.84 and low was $0.48.
52 week high for the Ascent Capital Group - $4.16 and low - $0.25.
Ascent Capital Group lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.87% during the next 3 months and, with 90% probability hold a price between $0.81 and $1.09 at the end of this period.
Ascent Capital 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 $0.70 and $0.68. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday April 11, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
The stock holds a RSI14 at 76 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Ascent Capital Group finds support from accumulated volume at $0.70.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.06 between high and low, or 8.21%. For the last week the stock has had a daily average volatility of 9.95%.
Our recommended stoploss: $0.69 (-3.93%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from pivot bottom found 8 days ago.)
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Evaluation: Strong Buy Candidate
Ascent Capital Group holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
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|ASCMA $0.72 ($0.01 2.13%)|
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