Cal-Maine Foods Stock Analysis
Technical stock analysis for 18 January 2019
Cal-Maine Foods fell by -1.48% in the last day from $43.88 to $43.23 The price has risen in 7 of the last 10 days , but is still down by -0.8% for this period. Volume has increased in the last day by 148 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 321 594 shares bought and sold for approximately $13.90 million.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the CALM stock was $43.23. This is 1.48% less than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 2.05% from a day low at $43.06 to a day high of $43.94.
30 day high of the CALM stock price was $44.59 and low was $40.63.
90 day high was $50.69 and low was $40.63.
52 week high for the Cal-Maine Foods - $52.30 and low - $39.90.
Cal-Maine Foods lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $44.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.36% during the next 3 months and, with 90% probability hold a price between $32.18 and $37.13 at the end of this period.
There are few to none technical positive signals at the moment. 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 $43.52. On a fall, the stock will find some support from the short-term average at $42.80. 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 Thursday January 17, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Cal-Maine Foods finds support from accumulated volume at $42.57.
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 $0.88 (2.05%) between high and low. For the last week, the stock has had a daily average volatility of 2.04%.
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 is within a wide and falling trend, so we believe 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 Buy Candidate to a Sell Candidate.
|CALM $43.23 $-0.65(-1.48%)|
CALM is down $0.65 today, but where's it headed in 2019?
|Zacks Investment Research is releasing its prediction for CALM based on the 1-3 month system that more than doubles the S&P 500.
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