Bullish vs. Bearish (4 opinions)
Social Sentiment 0.03
CARB Forecast and Technical Stock Analysis
Sell candidate since 2019-07-25 Loss -41.30%
Carbonite fell by -1.54% in the last day ( Tuesday, 20th Aug 2019 ) from $14.25 to $14.03 and has now fallen 4 days in a row. During the day the stock fluctuated 3.05% from a day low at $13.94 to a day high of $14.36. The price has fallen in 8 of the last 10 days and is down by -13.56% for this period. Volume has increased in the last day by 79 095 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, 674 371 shares bought and sold for approximately $9.46 million.
- 30 day high of the CARB stock price was $25.03 and low was $13.94.
- 90 day high was $26.53 and low was $13.94.
- 52 week high for Carbonite - $43.63 and low - $13.94.
Carbonite has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($14.82) are considered to be a "second chance" to get out. According to the fan-theory $8.62 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
There are few to none technical positive signals at the moment. Carbonite 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 $14.90 and $20.42. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday July 01, 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)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 4 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.42 between high and low, or 3.05%. For the last week, the stock has had a daily average volatility of 4.72%.
Carbonite is oversold on RSI14 (4). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buying opportunity.
Our recommended stop-loss: We hold a sell evaluation for this stock. No stop-loss set.
4.72 %Average volatility
Very Low Low Medium High Very High
Carbonite holds several negative signals and is within a very 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 Sell Candidate to a Strong Sell Candidate.
|CARB $14.03 ($-0.22 -1.54%)|
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