Caseys General Stores Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
|Loans||1 315.1 mill|
Caseys General Stores gained 4.82% in the last trading day, rising from $129.46 to $135.70 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has been going up and down for this period, and there has been a 6.75% gain for the last 2 weeks. Volume fell in the last day by -0.36 million shares, and in total, 1.02 million shares bought and sold for approximately $138.74 million. You should take into consideration that a 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $132.69 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $145.67 sometime during the next 3 months.
Only positive signals in the chart today. Caseys General Stores holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $127.09 and $127.33. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday December 10, 2018, 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.
Relative Strength Index (RSI)
RSI14 is 65 and the stock is currently not being overbought or oversold
Support & Resistance
Caseys General Stores finds support from accumulated volume at $129.46.
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 $7.59 (5.86%) between high and low. For the last week, the stock has had a daily average volatility of 5.57%.
Our recommended stoploss: $131.03 (-3.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
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Caseys General Stores holds several positive signals and has broken the wide and horizontal trend up. As the stock is in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.
|CASY $135.70 $6.24(4.82%)|
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