Bridgestone Corp (ADR) Forecast and Stock Analysis
Technical BRDCY stock analysis for March 15, 2019.
Bridgestone Corp (ADR) gained 2.44% in the last trading day, rising from $18.66 to $19.11 The price has fallen in 8 of the last 10 days and is down by -4.02% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 7 503 more shares were traded than the day before. In total, 47 586 shares bought and sold for approximately $909 368.00.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the BRDCY stock was $19.11. This is 2.44% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 0.63% from a day low at $19.03 to a day high of $19.15.
30 day high of the BRDCY stock price was $20.16 and low was $18.61.
90 day high was $20.16 and low was $18.39.
52 week high for the Bridgestone Corp (ADR) - $22.56 and low - $17.61.
Given the current horizontal trend you can expect Bridgestone Corp (ADR) with 90% probability to be traded between $18.55 and $20.23 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.
A buy signal was issued from a pivot bottom point on Thursday March 14, 2019, which indicates further gains until a new top pivot has been found. Bridgestone Corp (ADR) 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Bridgestone Corp (ADR) holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $19.22 and $19.36. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 29 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Bridgestone Corp (ADR) finds support from accumulated volume at $19.05.
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 $0.12 (0.63%) between high and low. For the last week, the stock has had a daily average volatility of 1.53%.
Bridgestone Corp (ADR) is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: $18.02 (-5.70%) (This stock has low daily movements and this gives low risk. Low RSI14 is 29 which reduces the risk some. There is a buy signal from pivot bottom found 1 days ago.)
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Bridgestone Corp (ADR) holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development.