Carbonite Forecast and Stock Analysis
Technical CARB stock analysis for February 15, 2019.
Carbonite fell by -2.93% in the last day from $24.57 to $23.85 and has now fallen 4 days in a row. The price has been going up and down for this period, and there has been a -16.72% loss for the last 2 weeks. Volume has increased in the last day by 155 590 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, 596 511 shares bought and sold for approximately $14.23 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the CARB stock was $23.85. This is 2.93% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.88% from a day low at $23.73 to a day high of $24.65.
30 day high of the CARB stock price was $29.77 and low was $22.35.
90 day high was $29.77 and low was $22.35.
52 week high for the Carbonite - $43.63 and low - $22.35.
Carbonite has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $23.87 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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 $25.20 and $26.98. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday February 12, 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 31 and the stock is currently not being overbought or oversold
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 $0.92 between high and low, or 3.88%. For the last week, the stock has had a daily average volatility of 5.04%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Carbonite 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.