CASY - Caseys General Stores Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Hold candidate since 2017-01-24
Caseys General Stores Stock Analysis
Caseys General Stores gained 0.18% in the last trading day, rising from USD 114.94 to USD 115.15. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume fell in the last day by -458 163 shares and ,in total, 372 606 shares bought and sold for approximately USD 42.91 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Caseys General Stores is the lower part of a wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break up through the bottom trend line at USD 113.16 will give a strong salessignal and a trend shift may be expected. Given the current horizontal trend you can expect Caseys General Stores with 90% probability to be traded between USD 115.10 and USD 128.91 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.
A buy signal was issued from a pivot bottom point on Wednesday January 11, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Caseys General Stores 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 USD 116.09 and USD 119.97. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 30 and the stock is currently not being overbought or oversold
Support & Resistance
Caseys General Stores finds support from accumulated volume at USD 114.94, USD 112.99, and USD 111.27. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 118.84, USD 122.00 and USD 124.22.
The stock is about to test the resistance from accumulated volume at USD 118.84 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 USD 1.32 (1.15%) between high and low. For the last week, the stock has had a daily average volatility of 1.90%.
Our recommended stoploss: USD 110.61 (-3.94%) ( criteria: risk and closeness to support from trendline.)
Caseys General Stores holds several negative signals and isolated this should give a sell recommendiation, but due to general chance for a turnaround situation we recommend a hold or accumulate position awaiting further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.