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CALM - Cal-Maine Foods

Industry: Food - Major Diversified Sector: Consumer Goods Exchange: NASDAQ

Fri 20'th Apr 2018

PERIOD 2018-01-22 - 2018-04-20
CHANGE 1.22%
PRICE $49.70
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

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Cal-Maine Foods Stock Analysis

Technical stock analysis for Fri 20'th Apr 2018

Buy candidate since 2018-04-03 Gain 8.16%

Cal-Maine Foods gained 1.22% in the last trading day, rising from $49.10 to $49.70 The price has risen in 7 of the last 10 days and is up by 6.42% 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, 170 515 more shares were traded than the day before. In total, 470 986 shares bought and sold for approximately $23.41 million.

Shorts 13.07% ( 2018-03-29 )
Cash 491.3 mill
Loans 29.2 mill
Beta 0.62
ROA 2.48

Trend

Cal-Maine Foods has broken the strong 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 $49.28, a level that may pose a second chance to hit a runner. According to fan-theory $53.71 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

Only positive signals in the chart today. Cal-Maine Foods 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 $48.69 and $45.83. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday April 10, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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Relative Strength Index (RSI)

The stock holds a RSI14 at 80 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 $45.95 and $43.00. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

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, Cal-Maine Foods finds support just below today's level at $45.95. If this is broken, then the next support from accumulated volume will be at $43.00 and $42.80.

Support: $45.95 Price: $49.70

Risk

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 $0.96 between high and low, or 1.96%. For the last week, the stock has had a daily average volatility of 2.46%.

The stock is extremely overbought on RSI14 (80). 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: $47.70 (-4.03%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from pivot bottom found 8 days ago.)

Overall risk:

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Evaluation

Cal-Maine Foods holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape, 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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