Wed 17'th Oct 2018
Cal-Maine Foods Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
|Shorts||16.80% ( 2018-09-28 )|
Cal-Maine Foods fell by -0.15% in the last day from $47.15 to $47.08 The price has risen in 7 of the last 10 days and is up by 6.3% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -7 174 shares and in total 351 156 shares bought and sold for approximately $16.53 million.
Given the current horizontal trend you can expect Cal-Maine Foods with 90% probability to be traded between $44.56 and $52.68 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.
Some negative signals were issued as well, and these may have some influence on the near short-term development. Cal-Maine Foods holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $47.92. On a fall, the stock will find some support from the short-term average at $45.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Tuesday October 16, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 48 and the stock is currently not being overbought or oversold
Support & Resistance
Cal-Maine Foods finds support from accumulated volume at $45.00.
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 $0.77 between high and low, or 1.66%. For the last week, the stock has had a daily average volatility of 2.49%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Cal-Maine Foods holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.Click for Top 5 Sell Candidates
|CALM $47.08 $-0.07(-0.15%)|
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