Ascent Capital Group Forecast and Stock Analysis
Technical ASCMA stock analysis for February 15, 2019.
Ascent Capital Group gained 7.41% in the last trading day, rising from $0.54 to $0.58 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 5 of the last 10 days and is up by 17.67% 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, 99 344 more shares were traded than the day before. In total, 221 221 shares bought and sold for approximately $128 308.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ASCMA stock was $0.58. This is 7.41% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 12.55% from a day low at $0.54 to a day high of $0.61.
30 day high of the ASCMA stock price was $0.74 and low was $0.38.
90 day high was $1.05 and low was $0.25.
52 week high for the Ascent Capital Group - $7.65 and low - $0.25.
Ascent Capital Group lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.63 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -39.94% during the next 3 months and, with 90% probability hold a price between $0.05 and $0.38 at the end of this period.
Only positive signals in the chart today. 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 $0.52 and $0.48. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday February 12, 2019, which indicates further gains until a new top pivot has been found. Ascent Capital 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 47 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.54 and $0.53.
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, Ascent Capital Group finds support just below today's level at $0.54. If this is broken, then the next support from accumulated volume will be at $0.53 and $0.49.
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 $0.07 between high and low, or 12.55%. For the last week, the stock has had a daily average volatility of 7.90%.
Our recommended stoploss: $0.55 (-5.08%) (This stock has high daily movements and this gives high risk. There is a buy signal from pivot bottom found 3 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive, despite the stock being in a falling trend, 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.