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ASG - Liberty All-Star Growth Fund Inc

Industry: Closed-End Fund - Equity Sector: Financial Exchange: NYSE

ASG - Liberty All-Star Growth Fund Inc

Industry: Closed-End Fund - Equity Sector: Financial Exchange: NYSE
#740()/6519

Fri 15'th Jun 2018

PERIOD 2018-03-16 - 2018-06-15
CHANGE 0.46%
PRICE $6.54
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

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Liberty All-Star Growth Fund Inc Stock Analysis

Technical stock analysis for Fri 15'th Jun 2018

Buy candidate since 2018-06-11 Gain 6.17%

Liberty All-Star Growth Fund Inc gained 0.46% in the last trading day, rising from $6.51 to $6.54 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 8 of the last 10 days and is up by 9.09% over the past 2 weeks. Volume fell in the last day by -38 541 shares, and in total, 98 631 shares bought and sold for approximately $0.00. 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.

Shorts 0.73% ( 2013-01-15 )
Cash n/a
Loans n/a
Beta 1.29
ROA 21.31

Trend

Liberty All-Star Growth Fund Inc has broken the 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 $6.34, a level that may pose a second chance to hit a runner. According to fan-theory $6.87 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

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Signals

Liberty All-Star Growth Fund Inc 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 $6.29 and $6.05. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday June 08, 2018, 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 also not.

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A sell signal from a double top formation was found on Wednesday June 06, 2018 and based on theory for this formation the price should fall by -0.39% to $5.78 within 11 trading days since signal was issued (Thursday June 21, 2018).

Relative Strength Index (RSI)

The stock holds a RSI14 at 78 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.

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $6.07 and $5.99.

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, Liberty All-Star Growth Fund Inc finds support just below today's level at $6.07. If this is broken, then the next support from accumulated volume will be at $5.99 and $5.96.

Support: $6.07 Price: $6.54

Risk

In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.

The stock is extremely overbought on RSI14 (78). 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. Since the Liberty All-Star Growth Fund Inc has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stoploss: $6.33 (-3.24%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rising rate. 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.

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