Bridgestone Corp (ADR) Forecast and Stock Analysis
Technical BRDCY stock analysis for Monday June 24, 2019.
Bridgestone Corp (ADR) gained 0.56% in the last trading day ( Monday, 24th Jun 2019 ), rising from $19.62 to $19.73 During day the stock fluctuated 0.77% from a day low at $19.62 to a day high of $19.77. The price has risen in 5 of the last 10 days and is up by 1.08% over the past 2 weeks. Volume fell in the last day by -32 145 shares, and in total, 25 767 shares bought and sold for approximately $508 383.00. 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.
- 30 day high of the BRDCY stock price was $19.77 and low was $18.47.
- 90 day high was $19.99 and low was $18.08.
- 52 week high for the Bridgestone Corp (ADR) - $20.41 and low - $17.61.
Bridgestone Corp (ADR) has broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $19.72, a level that may pose a second chance to hit a runner. According to fan-theory $21.35 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Bridgestone Corp (ADR) 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 $19.55 and $19.06. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday May 20, 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 also not.
Relative Strength Index (RSI)
The stock holds a RSI14 at 74 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
Bridgestone Corp (ADR) finds support from accumulated volume at $19.52.
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 (74). 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.
Our recommended stoploss: $18.82 (-4.63%) (This stock has low daily movements and this gives low risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from pivot bottom found 24 days ago.)
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Bridgestone Corp (ADR) holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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|BRDCY $19.73 ($0.11 0.56%)|
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